Gold prices across Pakistan’s bullion markets experienced a notable decline on Thursday, reversing the sharp increases seen over the previous days. This downturn coincided with a drop in international gold rates amid evolving global economic and geopolitical dynamics.
The All Pakistan Sarafa Gems and Jewellers’ Association reported that the price of gold per tola decreased by Rs7,100, settling at Rs486,962. Similarly, the price for 10 grams fell by Rs6,087, reaching Rs417,491.
On the preceding day, Wednesday, gold prices had surged, with the per tola rate rising by Rs2,800 to Rs478,762 from Rs475,962. The 10-gram price also increased by Rs2,401 to Rs410,461, up from Rs408,060 on Tuesday.
Internationally, gold prices declined by $71 to $4,642 per ounce, ending a streak of consecutive gains. Analysts attributed this drop to recent geopolitical events, notably comments from US President Donald Trump regarding ongoing military operations against Iran, which also affected broader financial markets.
Meanwhile, oil prices climbed due to heightened tensions, raising concerns about potential inflationary pressures worldwide. In Pakistan, experts cautioned that rising global oil prices could lead to higher fuel costs domestically, potentially exacerbating inflation.
Market observers remain vigilant as geopolitical uncertainties continue to influence commodity price volatility on a global scale.
