This reversal ends a recent upward trend, where prices had climbed to Rs 475,662 per tola on the previous trading day after a Rs 2,300 increase.
International Market Influence
The pullback in Pakistan mirrors movements abroad. Spot gold prices fell by $55 per ounce, settling at $4,478 (including a $20 premium in some quotes). This comes after gold hit record levels earlier in the week, driven by factors such as central bank purchases and expectations around interest rate policies. The recent dip appears linked to profit-taking by investors after the strong run.
Silver prices followed suit in the local market. Per tola silver dropped by Rs 332 to Rs 8,075, while 10 grams declined accordingly.
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Market Context
Gold rates in Pakistan closely track international benchmarks, adjusted for the rupee-dollar exchange rate and local premiums. The recent fluctuations highlight ongoing volatility in precious metals amid global economic signals.
Jewelers and investors often watch these daily changes closely, especially during wedding seasons or economic uncertainty when demand for physical gold tends to rise.
