Karachi, January 13, 2025 – Pakistan gold prices experienced a significant decline on Monday, dropping by Rs 1,500 per tola due to easing trends in international markets. This decrease brought the price of 24-karat gold per tola down to Rs 279,300 from the previous closing of Rs 280,800 in local markets. The decline marks a notable shift from Pakistan gold’s all-time high of Rs 287,900 per tola recorded on October 30, 2024.
The price of 24-karat gold per 10 grams in Pakistan also witnessed a reduction of Rs 1,286, settling at Rs 239,455 compared to the previous rate of Rs 240,741. These adjustments reflect ongoing fluctuations in both domestic and global gold markets, with Pakistan gold prices closely mirroring international trends.
Bullion market experts have linked the decline in Pakistan gold prices to a $15 drop in international gold rates, where the price of gold slipped to $2,675 per ounce from the last closing of $2,690. The global easing of gold prices is attributed to factors such as a stronger US dollar and reduced demand for safe-haven assets, which tend to influence Pakistan gold markets directly.
Pakistan gold traders remain watchful of international developments, as local prices are heavily influenced by global trends. Despite this recent dip, the high volatility in Pakistan gold prices has kept investors cautious. Many buyers in Pakistan consider gold a secure investment, especially during times of economic uncertainty, which has traditionally supported strong demand in the domestic market.
The decline in Pakistan gold prices is expected to provide some relief to local buyers, particularly during the ongoing wedding season when demand typically rises. However, market participants caution that the downward trend may be temporary, depending on shifts in international markets and local currency fluctuations.
As Pakistan gold markets react to global trends, maintaining a balance between domestic demand and international pricing pressures will remain crucial. The trajectory of Pakistan gold prices in the coming weeks will likely depend on global economic conditions, geopolitical factors, and the strength of the Pakistani rupee against the US dollar.