KARACHI: In a surprising turn for the commodities market, gold and silver prices have recorded their sharpest decline in over a decade, with rates falling by 6% and 7% respectively, marking their lowest levels in 12 years.
According to market analysts, the steep drop is attributed to a combination of global economic recovery signals, a stronger U.S. dollar, and declining demand for safe-haven assets. The sudden shift has caused ripples across both local and international markets.
In Pakistan, the per-tola price of gold saw a major correction, mirroring the international trend, while silver prices also plunged significantly due to reduced industrial demand and investor sell-offs.
“This is the most significant drop we’ve seen since 2013,” said a senior bullion trader in Karachi. “Investors are moving toward equities and currencies as global inflation fears ease.”
Experts suggest that while the current dip may unsettle short-term investors, it could also present an opportunity for buyers looking to enter the precious metals market at relatively lower prices.
Global markets have seen similar declines, with traders keeping a close eye on upcoming U.S. Federal Reserve statements and potential interest rate adjustments that could further impact precious metal trends.
