Karachi, January 4, 2025 – Gold prices in Pakistan experienced a significant decline on Saturday, dropping by Rs 1,200 per Tola, a decrease attributed to the falling trends in international gold markets.
In the domestic bullion market, the price of 24-karat gold per Tola settled at Rs 275,700, a drop from the previous day’s closing of Rs 276,700. This decline comes on the heels of a record high of Rs 287,900 per Tola, which was recorded on October 30, 2024. This marks a notable shift from the soaring prices seen in the latter part of 2024, as gold prices continue to fluctuate in response to global market dynamics.
Additionally, the price of 24-karat gold per 10 grams also saw a decrease, falling by Rs 1,029. It ended the day at Rs 236,368, down from Rs 237,397 the previous day. These changes reflect a broader trend in the domestic market, where gold has seen price adjustments in line with international shifts.
Market analysts point to a weakening of global gold prices as the main factor driving the local price drop. On the international front, gold saw a decrease of $18 per ounce, closing at $2,639 from the previous day’s price of $2,657. This represents a continuation of the downward trend in global gold prices, which has impacted local markets worldwide, including Pakistan.
The global gold market has been responding to various economic factors, including changes in the value of the US dollar, inflation expectations, and shifting investor sentiment. These factors have led to fluctuations in the price of gold, which remains a sensitive asset for investors in both international and local markets.
As Pakistan’s gold market reacts to these changes, it remains to be seen whether the downward trend will continue or if the price of gold will recover in the coming days.