All Pakistan Sarafa Gems and Jewelers Association reported a slight decline in gold prices across Pakistan on Saturday as uncertainty surrounding the geopolitical situation in the Middle East continued to influence global bullion markets.
Gold price per tola falls by Rs400
According to bullion market data, the price of 24-karat gold per tola decreased by Rs400 to settle at Rs493,662 compared to the previous closing rate of Rs494,062 in local markets.
Similarly, the price of 24-karat gold per 10 grams declined by Rs343 to close at Rs423,235 against the earlier rate of Rs423,578.
Bullion dealers said local gold prices followed the downward trend in international markets amid fluctuating investor sentiment.
International gold prices edge lower
Analysts noted that ongoing geopolitical uncertainty in the Middle East has kept international gold markets volatile in recent days.
In the global market, gold prices declined by $4 per ounce to settle at $4,713 compared to the previous closing of $4,717 per ounce.
Market experts said investors continue to closely monitor developments in the region, as geopolitical tensions and economic uncertainty often influence safe-haven demand for precious metals.
Bullion market remains volatile
Traders said fluctuations in international bullion prices, currency movements and geopolitical risks are likely to keep Pakistan’s gold market volatile in the coming sessions.
Gold is traditionally considered a safe-haven investment during periods of political and economic uncertainty, causing prices to react sharply to international developments.
Despite the latest decline, analysts believe global uncertainty could continue supporting gold prices over the longer term if tensions in the Middle East escalate further.