Gold Rates Decline Amid Technical Corrections
The decline in gold prices is attributed to technical corrections and profit-taking, with market analysts closely monitoring the commodity's movement. As the gold market continues to evolve, investors and consumers alike will be watching for any signs of change in the gold rates.
Gold prices in Pakistan and international markets experienced a decline on Monday, with a 10-gram gold price dropping by Rs1,368 to Rs297,582, while the international gold price fell by $16 per ounce to $3,289.
Market analysts attribute the decline to technical corrections and profit-taking, citing gold's recent upward trend. The price of 24-karat gold per tola also fell to Rs345,800, a decline of Rs3,400, and 10-gram gold decreased to Rs296,467, a drop of Rs2,915, according to the All-Pakistan Gems and Jewellers Sarafa Association (APGJSA).
The international rate of gold also declined, reaching $3,276 per ounce with a premium of $20, a decrease of $34. Silver prices in Pakistan remained relatively stable, with per tola silver at Rs3,497 and 10 grams of silver at Rs2,998, although they did decrease by Rs70 to Rs3,427 per tola on Wednesday.
Despite the recent decline, gold rates in Pakistan on 1st May, 2025, saw a price increase, according to APGJSA. The fluctuation in gold prices is a reminder of the commodity's volatility and the need for market participants to stay informed about the latest developments.