KARACHI (Web Desk) – Gold prices extended their downward trajectory on Thursday, registering a significant decline in both domestic and international markets as fluctuations in global commodity trends continued to weigh on the precious metal.
According to the All Pakistan Sarafa Gems and Jewellers Association, the price of gold per tola in Pakistan dropped by Rs9,720, bringing the new rate down to Rs432,716. The sharp fall follows a series of recent declines that have unsettled investors and buyers closely monitoring market movements.
The price of 10 grams of gold also witnessed a notable decrease, falling by Rs8,748 to settle at Rs369,422 in the local bullion market.
The decline mirrored developments in the international market, where gold prices also moved lower. The value of the precious metal in the global bullion market fell by $40 per ounce, with the new rate settling at $6,889 per ounce.
The latest adjustment comes just a day after domestic gold prices recorded another substantial drop. On Wednesday, the price of gold per tola had fallen by Rs12,627, closing at Rs442,436.
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Market observers noted that the recent downturn is part of a broader pattern of volatility seen over the past week. Similar declines were recorded on June 6 and June 8, when both international and local markets experienced downward pressure.
Analysts believe that shifting investor sentiment, changing trends in international commodity markets and fluctuations in global economic conditions continue to influence the direction of gold prices in Pakistan. Since domestic rates are largely linked to international benchmarks and currency movements, any changes in the global market are quickly reflected in local prices.
Despite the current slide, experts caution that the bullion market remains highly sensitive to geopolitical developments, monetary policy expectations and investor demand, factors that can trigger abrupt price swings in either direction.
For consumers planning jewellery purchases, the decline may offer a temporary opportunity, while investors are expected to remain cautious as they assess whether the recent losses signal a longer-term trend or a short-term market correction.
