Gold prices in Pakistan saw a sharp decline, sending ripples through the local bullion markets. The downward trend was triggered by a slump in international gold rates, which had a direct impact on domestic pricing structures.

Rs2,500 Drop in 24-Karat Gold Per Tola

The price of 24-karat gold fell by Rs2,500 per tola, bringing the new market rate down to Rs353,000. This significant drop has caught the attention of traders and investors alike, as it reflects a sudden shift in market sentiment.

10-Gram Gold Down by Rs2,143

Simultaneously, the price of 10 grams of 24-karat gold also witnessed a sharp reduction of Rs2,143, lowering the price to Rs302,640. This adjustment reflects the consistent pattern seen across major cities, including Karachi, Lahore, Islamabad, and Peshawar.

Global Market Influence Behind the Crash

The steep drop in local gold prices is largely attributed to a $25 decrease in the international gold rate per ounce, which now stands around $3,310 per ounce. This decline comes amid easing inflation fears, increased interest in equities, and anticipation of central bank policy changes globally.

Investors Cautious Amid Volatility

The decline has stirred mixed reactions from investors. Some view the current dip as a temporary correction and a potential buying opportunity, while others are adopting a wait-and-see approach due to ongoing economic uncertainty, fluctuating currency rates, and changes in international demand.

Bullion Traders Monitor Market Closely

Local bullion dealers reported increased footfall in markets following the price drop. However, many buyers remain hesitant, expecting further decline before making significant purchases. Traders are urging investors to stay informed and avoid panic selling during this volatile period.

Economic Factors Driving Uncertainty

Analysts point to a combination of factors influencing the gold market, including strengthening of the US dollar, geopolitical developments, fluctuations in oil prices, and central bank interest rate projections. These factors continue to push investors to reallocate their portfolios and seek safer assets.

Short-Term Outlook: Stabilization or Further Decline?

The outlook for gold prices in the coming days remains mixed. While some predict stabilization if global markets hold steady, others warn that further declines are possible if economic indicators continue to weigh down demand for precious metals.

Public Urged to Trade with Caution

Experts and traders alike are advising the public to exercise caution when trading or investing in gold. They recommend following authentic market trends, staying updated on currency movements, and consulting with professional advisors before making large transactions.