Domestic gold prices in Pakistan registered a downward trend for the second consecutive session, driven by a parallel contraction in the international bullion markets.
According to the daily market report released by the All Pakistan Sarafa Gems and Jewelers Association (APGJSA), the price of 24-karat gold fell by Rs. 500, bringing the cost of a single tola down to Rs. 474,862.
This back-to-back decline offers temporary breathing room for consumers and retail buyers, following a highly volatile month where localized macroeconomic pressures pushed the precious metal near historic highs.
The dip in the commodity’s value trickled evenly across standard local measurements, affecting both bulk trading units and smaller retail quantities.
Meanwhile, the silver market also mirrored this downward trajectory. The price of 24-karat silver dropped by Rs. 83, settling at Rs. 8,034 per tola, indicating broader profit-taking across precious metals in local commercial hubs like Karachi, Lahore, and Multan.
Local bullion prices in Pakistan fundamentally track global spot metrics. On the international stage, spot gold shed $5, trading at $4,525 per ounce (inclusive of a $20 regional premium).
Macroeconomic Data Signals: Stronger economic indicators out of Western economies, alongside stubborn interest rates by major central banks, have tempered investors’ appetite for non-yielding safe-haven assets like bullion.
Currency Fluctuations: A stabilizing U.S. Dollar Index (DXY) has made dollar-denominated gold more expensive for foreign buyers, dampening global demand.
Market Adjustments: Traders are locking in profits after gold hit unprecedented technical ceilings earlier in the quarter, paving the way for a minor technical correction.
Market experts note that despite this temporary two-day drop, gold remains heavily elevated on a year-on-year basis due to domestic inflation and currency disparities. Retail jewelers report that wedding-season buying remains conservative, with many consumers opting for lower-karat options (such as 22K or 18K) or downsizing their weight requirements as the market searches for a definitive price floor.
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