Gold Prices in Pakistan Plunge Rs 2,700 per Tola

Gold Prices in Pakistan Plunge Rs 2,700 per Tola

Karachi, January 28, 2025 – Gold prices in Pakistan experienced a sharp decline on Tuesday, dropping by Rs 2,700 per tola, primarily driven by a significant downturn in international markets. This decrease has brought some relief to buyers in the local bullion markets.

The price of 24-karat gold per tola fell to Rs 286,400, down from the previous day’s closing rate of Rs 289,100. This marks a substantial dip from the all-time high of Rs 289,600 per tola recorded on January 24, 2025. Similarly, the price of 24-karat gold per 10 grams also witnessed a reduction of Rs 2,315, settling at Rs 245,541 compared to Rs 247,856 a day earlier.

Bullion market analysts attribute this drop in gold prices to fluctuations in the international market. On Tuesday, gold prices in the global market fell by $26 per ounce, closing at $2,741 from the prior day’s rate of $2,767. This decline was a key factor in influencing the local rates in Pakistan, as international trends heavily impact domestic gold prices due to the import-dependent nature of the bullion trade.

Experts pointed out that the downturn in gold prices was likely triggered by easing global economic uncertainties and a strengthening US dollar, which often dampens gold’s appeal as a safe-haven asset. Moreover, shifts in demand and adjustments by institutional investors in international markets also contributed to the price drop.

Despite this dip, gold remains a popular choice for investment in Pakistan, especially amid the ongoing inflationary pressures and fluctuating currency values. Analysts suggest that while the current decline provides an opportunity for buyers, further movements in gold prices will depend on upcoming economic indicators and international market trends.

Gold traders and jewelers in the domestic market have noted increased activity as customers take advantage of the price drop. However, they advise caution, emphasizing that prices could remain volatile in the near term due to unpredictable global economic factors.

The silver market also recorded minor adjustments, reflecting broader trends in the precious metals market. Investors are urged to monitor developments in both local and global economies to make informed decisions.