Domestic bullion market follows global trend as international prices fall $44 per ounce
Gold prices in Pakistan fell sharply on Sunday, dropping by Rs4,400 per tola, as international bullion markets weakened amid shifting macroeconomic signals and global demand fluctuations.
According to the All Pakistan Sarafa Gems and Jewellers Association, the price of 24-karat gold declined to Rs471,762 per tola from the previous closing of Rs476,162 in the local market.
Similarly, the price of 24-karat gold per 10 grams decreased by Rs3,773, settling at Rs404,459 compared with the prior closing of Rs408,232.
Market experts said the decline in domestic prices was largely driven by a fall in international gold rates, as global bullion markets responded to changing economic indicators and reduced demand pressures.
They added that broader uncertainty, including geopolitical tensions in the Middle East and ongoing inflationary concerns, continues to shape investor sentiment in precious metals markets.
In the international market, gold prices fell by $44 per ounce, dropping from $4,538 to $4,494. Analysts noted that global price volatility is being influenced by macroeconomic data releases, central bank expectations and shifting safe-haven demand.
Domestic bullion rates in Pakistan remain closely tied to international movements as well as fluctuations in the rupee-dollar exchange rate, making local prices highly sensitive to global trends.
Market participants said the recent decline offers some relief to consumers after sustained high prices in recent months, although they cautioned that volatility is likely to persist depending on global economic and geopolitical developments.
Traders continue to monitor international bullion trends closely, as any changes in monetary policy expectations or global risk sentiment could quickly reverse the current downward movement.
