Gold prices in Pakistan plunge sharply by Rs12,489 per tola amid global bullion sell-off and rising market volatility.
Gold prices in Pakistan recorded a sharp decline on Saturday, falling by Rs12,489 per tola as international bullion markets came under strong selling pressure amid shifting investor sentiment.
According to the All Pakistan Sarafa Gems and Jewellers Association, the price of 24-karat gold per tola dropped to Rs455,327 from the previous close of Rs467,816.
The price of 24-karat gold per 10 grams also fell by Rs11,240 to Rs387,772, compared with Rs401,012 in the prior session.
Market participants attributed the steep domestic decline to a global correction in gold prices, where bullion dropped by $125 per ounce to $4,329.
Analysts said international markets were reacting to changing economic expectations, geopolitical uncertainty in the Middle East and concerns over inflation trends, which have driven volatility in precious metals.
“The market is highly sensitive right now, with rapid shifts in risk appetite influencing bullion prices,” one market analyst said.
Despite the sharp fall offering short-term relief for jewellery buyers, experts cautioned that gold prices could remain volatile in the coming weeks as investors track global geopolitical developments and central bank policy signals.
Buyers may find short-term relief, but analysts warn that gold prices could remain volatile amid global economic and geopolitical uncertainty ahead.
