Karachi, January 6, 2025 – Gold prices in Pakistan experienced a notable decline of Rs 700 per Tola on Monday, as a result of the ongoing downtrend in the global gold markets.
The prices of 24-karat gold per Tola settled at Rs 275,000, marking a decrease from the previous closing of Rs 275,700 in the local markets. The gold prices in Pakistan had reached an all-time high of Rs 287,900 on October 30, 2024, reflecting a significant fluctuation in the precious metal’s value.
The fall in gold prices was also observed in the per 10-gram segment, where the cost of 24-karat gold dropped by Rs 600, ending at Rs 235,768 from the previous closing of Rs 236,368 in the domestic markets. This decline has raised concerns among local investors and buyers who had earlier been tracking the rise in gold prices with considerable interest.
Experts in the bullion market have linked the drop in gold prices in Pakistan to the weakening trends in international markets. As global investors shifted their focus, the price of gold in international markets saw a decrease of $7, closing at $2,632 per ounce compared to the previous closing of $2,639. This dip in global prices has had a direct impact on the domestic gold market, where prices are heavily influenced by the global gold rate.
Gold in Pakistan is often seen as a safe investment, with many investors relying on the precious metal to hedge against inflation and economic uncertainties. However, the recent dip in prices has raised questions about the potential for further declines, especially considering the volatility in international markets.
Despite the recent drop, gold continues to hold significant value in Pakistan, especially for long-term investors. The fluctuation in prices is seen as part of the dynamic nature of the global bullion market, which regularly experiences shifts based on a range of factors, including geopolitical tensions and changes in global economic conditions.
Looking ahead, market experts suggest that the price of gold in Pakistan will continue to track the movements in the global markets, making it essential for investors to stay informed about global trends and adjust their strategies accordingly.