LAHORE (Web Desk) – Gold prices in Pakistan took another tumble on Wednesday, mirroring a steep decline in international markets as the yellow metal continues to lose ground.
In the global bullion market, gold dropped by $35 per ounce, settling at $4,115, marking one of the sharpest single-day dips in recent weeks. The ripple effect was instantly felt across Pakistan, where the per tola price of gold fell by Rs3,500 to Rs433,862, while 10 grams slid by Rs3,100 to Rs371,966.
Market insiders say the latest fall is tied to the strengthening of the US dollar and a rebound in global bond yields, both of which tend to push investors away from non-yielding assets like gold.
“The precious metal is under pressure as traders shift their focus to short-term dollar gains,” said one local bullion dealer.
However, experts believe the current dip might not last long. “Gold usually corrects itself after sharp declines,” said an analyst at a leading investment firm.
“If inflationary pressures continue and geopolitical uncertainties remain high, we could see prices bounce back in the coming weeks.”
According to forecasts, gold may find temporary stability around Rs430,000 per tola, but could start recovering in November as global markets adjust and investors once again seek safe-haven assets amid persistent global instability.
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