Gold prices in Pakistan recorded a sharp decline on Wednesday as both local and international bullion markets witnessed downward pressure amid changing global economic conditions and geopolitical uncertainty.
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According to the rates released by the All Pakistan Sarafa Gems and Jewellers Association, the price of 24-karat gold per tola fell by Rs6,800, bringing the new rate to Rs470,362 compared to Rs477,162 in the previous trading session.
Similarly, the price of 10 grams of 24-karat gold dropped by Rs5,830 and settled at Rs403,259, down from Rs409,089.
In the international bullion market, gold prices declined by $68 per ounce to reach $4,480, compared to the previous level of $4,548 per ounce. Analysts linked the drop to shifts in investor sentiment, global economic uncertainty, and ongoing geopolitical developments, particularly tensions involving the United States and Iran.
Silver prices in the domestic market also moved downward. The price of silver per tola decreased by Rs125 to Rs7,974 from the previous rate of Rs8,099.
Market experts noted that precious metal prices remain highly sensitive to international political developments, currency fluctuations, inflation expectations, and central bank policies. Despite the latest decline, analysts maintained that gold continues to hold long-term appeal for investors seeking stability during uncertain economic periods.
They explained that gold is widely viewed as a safe-haven asset because of its intrinsic value, limited supply, and ability to retain purchasing power during inflationary or volatile market conditions.
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Bullion traders said short-term fluctuations are expected to continue as investors closely monitor developments in global markets and diplomatic tensions affecting oil prices and financial stability.
The local bullion market is expected to remain volatile in the coming days as international prices continue to shift.