Karachi, January 14, 2025 – Gold prices in Pakistan experienced a decline on Tuesday, with rates settling at Rs 277,900 per tola amid bearish trends in international markets. The reduction in domestic gold prices mirrors the downward movement in global markets, where weaker demand and economic factors influenced trading.
In the domestic bullion market, the price of 24-karat gold per tola dropped by Rs 1,400 compared to the previous day’s closing rate of Rs 279,300. This marks a significant reduction from the all-time high of Rs 287,900 per tola recorded on October 30, 2024. Similarly, the price of 24-karat gold per 10 grams fell by Rs 1,201, settling at Rs 238,254, down from Rs 239,455 a day earlier.
Market analysts attribute the decline in gold prices in Pakistan to the weakening trends in international markets. On the global stage, gold prices dropped by $14, closing at $2,661 per ounce, compared to $2,675 per ounce in the previous session. This decrease in international gold prices has had a cascading effect on local markets, where rates are closely aligned with global benchmarks.
Experts suggest that the fall in gold prices globally could be linked to easing geopolitical tensions and expectations of interest rate hikes by major central banks, which typically dampen the appeal of non-yielding assets like gold. Additionally, fluctuations in the value of the US dollar and changes in global demand patterns have also contributed to the recent dip.
Despite the current decline, gold remains a favored asset for investors in Pakistan, particularly during times of economic uncertainty and inflationary pressures. The recent adjustment in prices offers an opportunity for prospective buyers to invest in gold at relatively lower levels compared to the peak rates observed in late 2024.
As global market dynamics continue to evolve, analysts will be closely monitoring international trends and their subsequent impact on gold prices in Pakistan. For now, the easing of gold prices provides a brief respite for buyers in the local market.