Gold prices have gone into reverse gear in the bullion markets across Pakistan as the price of one Tola of gold decreased by Rs 2900, reaching the price of Rs 5,40,362.
According to the All Pakistan Bullion Gems and Jewelers Association, the price of gold per tola has decreased by Rs 2,900 to Rs 540,362. The price of 10 grams of gold in the country has decreased by Rs 2,486 to Rs 463,273.
On the other hand, the price of gold in the global market has decreased by $ 29 to $ 5,176 per ounce. It should be noted that the price of gold had increased by Rs 3,700 yesterday.
According to international media reports, the heightened regional tensions have led to widespread flight cancellations, severely hampering the ability of suppliers to transport gold through major trade hubs. This logistical gridlock has created a unique bottleneck in the physical gold market.
Industry experts report that many traditional buyers are hesitant to commit to new purchases. This reluctance stems from a surge in shipping and insurance premiums—unforeseen costs that many are unwilling to absorb—coupled with a lack of guarantee regarding timely delivery.
Faced with mounting storage fees and funding costs, UAE-based traders have begun offloading their inventory at prices approximately $30 per ounce lower than the London global benchmark.
The UAE, particularly Dubai, serves as a critical axis for the global gold trade. It acts as a primary export gateway to Asia and a vital transit point for gold arriving from Switzerland, the United Kingdom, and various African nations. The current disruption highlights the vulnerability of these supply chains to regional geopolitical instability.
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