Gold Price in Pakistan Falls for Fifth Consecutive Day
Global gold prices dip to $4,095 per ounce amid market correction
Gold prices in Pakistan fell for the fifth straight day on Friday, tracking a continued decline in international bullion rates as investors turned to stronger global currencies and awaited key economic signals.
According to the All Pakistan Sarafa Gems and Jewellers Association (APSGJA), the price of 24-carat gold dropped by Rs2,000 per tola, settling at Rs431,862 in the local market.
Similarly, 10 grams of 24-carat gold declined by Rs1,714, closing at Rs370,252. The price of 10 grams of 22-carat gold also fell by Rs1,571, reaching Rs339,410.
This marks the fifth consecutive session of decline, extending the bearish streak that began earlier this week as global demand softened and the U.S. dollar continued to strengthen.
International Market Trends
In the global market, gold prices fell by $20 to $4,095 per ounce, as investor sentiment shifted amid expectations of sustained interest rates by major central banks and easing inflation pressures.
Analysts attribute the downward trend to profit-taking by institutional investors, a stronger dollar index, and rising bond yields, which have collectively dampened gold’s appeal as a safe-haven asset.
Silver Prices Also Decline
Silver followed the same trajectory in Pakistan.
- The price of 24-karat silver per tola dropped by Rs43, reaching Rs5,067.
- 10 grams of silver declined to Rs4,344.
Precious metals have faced selling pressure across global markets as risk appetite improved, prompting investors to shift toward equities and higher-yielding assets.
Market Outlook
Financial analysts note that fluctuations in the interbank exchange rate, combined with volatile international gold prices, continue to influence Pakistan’s local bullion market.
“Gold’s short-term trajectory depends largely on currency stability and global economic data,” said one market observer. “If the U.S. dollar continues to gain strength, we could see further correction in local gold prices.”
Traders and investors in Pakistan are now watching closely for updates from the Federal Reserve and global inflation data that could impact bullion prices in the coming week.
