Gold Prices in Pakistan Drop with Global Market Trends
The decline in gold prices is expected to impact the local market, with buyers potentially taking advantage of lower rates to invest in gold. As the global demand for gold continues to rise, it will be essential to monitor market trends and adjust accordingly.
Gold prices in Pakistan fell on Wednesday, with the price of gold per tola dropping to Rs306,300, a decrease of Rs2,400 from the previous day, following a decline in international rates. The All-Pakistan Gems and Jewellers Sarafa Association reported the decrease, which also saw the price of 10-gram gold fall to Rs262,602, down by Rs2,058.
The decline in gold prices in Pakistan mirrors the trend in the international market, where spot gold held steady at $2,912.69 an ounce, following a 2% decline. The international rate of gold decreased by $24 to $2,916 per ounce, with a premium of $20. Silver prices also fell, with a decrease of Rs36 to Rs3,314 per tola, and a loss of Rs31 to settle at Rs2,841 for 10 grams.
The World Gold Council reported a record high demand for gold in 2024, with a 1% increase in investment and a 54% surge in central bank buying in the fourth quarter. This surge in demand is likely to impact gold prices in the coming months, making it essential for investors and consumers to stay informed about market trends.
As the gold market continues to fluctuate, it is crucial for buyers and sellers to stay up-to-date with the latest prices and trends. The All-Pakistan Gems and Jewellers Sarafa Association provides regular updates on gold and silver prices, helping to ensure transparency and stability in the market.
