Karachi, January 23, 2025 – Gold prices in Pakistan experienced a notable decline on Thursday, with a decrease of Rs 750 per tola, mirroring a drop in international gold prices.
This brought the price of 24-karat gold per tola down to Rs 286,700, compared to the previous day’s rate of Rs 287,450 in the local market. It is worth noting that gold had reached an all-time high of Rs 287,900 per tola on October 30, 2024.
Similarly, the price of 24-karat gold per 10 grams also witnessed a reduction, falling to Rs 245,795 from the prior day’s closing price of Rs 246,440. The decline in domestic gold prices has been attributed to fluctuations in the global bullion market.
According to market experts, the downward trend in gold prices within Pakistan is closely linked to a corresponding dip in international gold rates. On the global front, gold prices fell by $8 per ounce, settling at $2,743 compared to the previous day’s closing price of $2,751 per ounce. This decrease in international gold prices directly influenced the local market, as Pakistan’s gold rates are largely determined by global trends due to the country’s dependence on gold imports.
The decrease in gold prices has sparked discussions among investors and traders. For many, this represents an opportunity to invest in the precious metal at a slightly lower cost, particularly given the record-high levels reached in recent months. However, analysts caution that the gold market remains volatile, driven by factors such as changes in the global economic outlook, currency fluctuations, and geopolitical developments.
Gold has traditionally been viewed as a safe-haven asset, particularly during times of economic uncertainty. In Pakistan, demand for gold typically increases during wedding seasons and festive occasions, which can also influence price movements. Despite the recent decline, gold remains a popular choice for investment and wealth preservation.
While the short-term dip in prices may provide temporary relief to buyers, experts recommend closely monitoring both domestic and international markets for further developments. As global economic conditions continue to evolve, gold prices are likely to remain sensitive to a variety of factors, making it essential for investors to stay informed.