KARACHI (Web Desk)-According to the latest figures released by the All Pakistan Sarafa Gems and Jewellers Association, bullion markets witnessed a sharp downturn in both gold and silver prices amid heightened volatility in global trading conditions.
The price of 24-karat gold per tola dropped significantly by Rs15,500, settling at Rs476,862 compared to the previous closing level of Rs492,362. This marked one of the more noticeable single-day declines in recent trading sessions, reflecting pressure in both local and international markets.
Similarly, gold measured in smaller units also followed a downward trajectory. The price of 10 grams of 24-karat gold declined by Rs13,289, bringing it down to Rs408,832 from the earlier level of Rs422,121. The synchronized fall across different weight measurements indicates that the correction was broad-based rather than isolated to a specific segment of the market.
On the global front, gold prices also experienced a steep reduction. The international rate fell by $155 per ounce, settling at $4,545 compared to the previous $4,700 per ounce. This decline in global benchmarks played a key role in influencing domestic pricing, as local markets closely track international movements.
Silver was not spared from the downturn either. The price of silver per tola registered a decline of Rs972, sliding to Rs8,232 from Rs9,204. The drop in silver mirrored gold’s movement, suggesting a wider weakening in precious metals during the same trading cycle.
Market observers have linked this volatility to ongoing geopolitical developments and shifting investor sentiment. In particular, evolving diplomatic signals between the United States and Iran, along with broader uncertainty in the global economic landscape, have contributed to fluctuating demand for safe-haven assets.
Analysts noted that comments from political leadership suggesting stability in ceasefire conditions, combined with cautious optimism about possible diplomatic progress between major global players, have temporarily influenced investor behavior in bullion markets. Such signals often reduce immediate risk perception, leading to short-term price corrections.
Despite the recent decline, experts continue to maintain a constructive long-term outlook for gold. They emphasize that gold retains its traditional role as a protective asset during uncertain economic periods, supported by its limited supply, intrinsic value, and independence from government monetary systems.
Over time, gold has consistently attracted investors during periods of geopolitical tension, inflationary pressure, or financial instability. While equities and other high-risk assets may experience capital outflows in such environments, bullion often benefits from increased demand as investors seek stability.
In addition to its financial importance, gold continues to hold cultural and ornamental significance, particularly in South Asian markets, where demand typically persists regardless of short-term price movements.
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