Gold prices in Pakistan recorded a slight decline on Saturday, offering minor relief to buyers after recent sharp fluctuations in both local and international markets.
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According to the All Pakistan Gems and Jewellers Association, the price of 24-karat gold per tola decreased by Rs400, bringing the new rate to Rs934,662. The latest reduction comes after gold prices had seen multiple increases in recent weeks amid global economic uncertainty and geopolitical tensions.
Similarly, the price of 10 grams of gold dropped by Rs2,315, settling at Rs423,235 in the domestic market. Despite the decline, gold continues to trade at historically elevated levels, keeping it out of reach for many small investors and jewellery buyers.
In the international market, gold prices also witnessed a marginal decrease. The price of the precious metal fell by $4 per ounce, taking the global rate to $4,713 per ounce. Analysts say international gold prices remain highly sensitive to developments in global oil markets, inflation concerns, interest rate expectations, and ongoing geopolitical instability.
Gold is often viewed as a safe-haven asset during times of uncertainty, which has contributed to its sustained high valuation over recent months. Rising tensions in different parts of the world, coupled with investor caution over major economies, have supported strong demand for bullion.
Local jewellers say that while minor corrections are being seen from time to time, overall market sentiment remains bullish due to the uncertain global economic outlook. Consumers looking to purchase gold for weddings or savings purposes are still closely monitoring prices for a more significant drop.
Market experts believe further movement in gold prices will largely depend on upcoming international financial indicators, currency trends, and shifts in investor confidence.
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Although the latest decrease is relatively small, it reflects a temporary pause in the upward trend that has dominated the gold market in recent weeks.