Gold prices in Pakistan have experienced a significant drop, reflecting a global decline in the precious metal’s value. The per tola price fell by PKR 2,500, settling at PKR 215,000, while the 10-gram rate decreased by PKR 2,144, closing at PKR 184,358.
The sharp decline follows a similar trend in international markets, where gold prices slid to $1,970 per ounce, primarily due to a stronger US dollar and rising bond yields. Economic analysts attribute this to the Federal Reserve’s commitment to maintaining high interest rates, which has diminished gold’s appeal as a safe-haven asset.
In Pakistan, the declining prices offer a temporary respite to buyers, particularly during the ongoing wedding season. However, jewelers remain cautious, citing volatile currency exchange rates and concerns over declining demand.
The recent drop highlights the precious metal’s sensitivity to both global market shifts and local economic pressures, leaving stakeholders closely monitoring future developments.
