Gold Prices Ease in Pakistan After Weeks of Upward Pressure

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Gold prices in Pakistan declined on Tuesday, offering a brief reprieve to buyers after a sustained period of increases. According to the All Pakistan Gems and Jewellers Association, the price of gold fell by Rs700 per tola, settling at Rs359,000. The price for 10 grams of gold also saw a decrease of Rs600, bringing it down to Rs307,784. The correction comes amid broader market adjustments and a softening of prices in the international bullion trade.

The drop follows several consecutive sessions of gains that had pushed local gold rates to record highs. While investor demand and rupee volatility had recently driven gold prices upward, the latest dip reflects both a marginal easing in global demand and a technical correction. Globally, gold prices fell by $7 per ounce, now trading at $3,365 per ounce. The silver market mirrored this trend, with international silver prices dropping by $0.73 to reach $38.30 per ounce. Domestically, the per total price of silver declined by Rs73, now priced at Rs4,014.

Despite the downward movement, analysts believe gold remains a safe haven for local investors, especially amid lingering inflation concerns and currency depreciation pressures. However, the recent decline may reflect temporary consolidation in the market rather than a shift in long-term sentiment. Jewelers and bullion traders note that fluctuations in the international market, along with slight stability in the rupee, are influencing the current trajectory. Nonetheless, many still expect medium-term resilience in gold prices given ongoing global economic uncertainty and geopolitical tensions.

From a broader policy and market perspective, the precious metals market continues to play a key role in household savings and informal investment channels in Pakistan. While short-term volatility is common, the current easing offers an opportunity for small investors to re-enter the market. With Pakistan’s economy on a cautious recovery path, inflation control and currency stability will be crucial in shaping future trends in commodities like gold and silver. In the absence of aggressive fiscal stimulus or wage-driven inflation, the metals market may settle into a more stable range in the coming weeks offering relief to consumers and long-term certainty to investors.