KARACHI (Web Desk) – Gold prices witnessed a significant decline in Pakistan on Thursday following a downturn in the international bullion market, bringing relief to buyers after recent record highs. The latest rates were announced by the All Pakistan Sarafa Gems and Jewellers Association, which attributed the domestic decline to falling global gold prices.
According to the association, the price of one tola of 24-karat gold fell by Rs1,800, taking the new rate to Rs435,636. The reduction comes after gold had traded near historic highs in recent sessions, driven by strong international demand and global economic uncertainty.
The price of 10 grams of 24-karat gold also registered a noticeable decline. It dropped by Rs1,543, settling at Rs373,487. The decrease reflects changes in international bullion prices as well as fluctuations in the local market, where domestic rates are adjusted in line with global trends and the exchange rate.
Market analysts said gold prices in Pakistan closely follow developments in the international market, with local rates determined by changes in global bullion values and the rupee-dollar parity. Even modest movements in international prices often have a direct impact on domestic gold rates.
In the global bullion market, the price of gold declined by $18 per ounce, bringing the international rate down to $4,096 per ounce. Traders linked the decline to profit-taking by investors and shifting market expectations surrounding global economic conditions.
Bullion dealers noted that international investors continue to monitor inflation trends, interest rate policies of major central banks, and geopolitical developments, all of which influence demand for gold as a safe-haven asset. Any improvement in economic confidence or expectations of stable monetary policy can reduce demand for the precious metal, leading to price corrections.
Local jewellers said the latest reduction may encourage some buyers who had postponed purchases due to record-high prices in recent weeks. Wedding-related buying and seasonal demand are expected to support market activity if prices remain stable or continue to ease.
Despite the latest decline, gold continues to trade at historically elevated levels compared with previous years. Analysts believe that while short-term price corrections are possible, global uncertainty, currency fluctuations, and central bank gold purchases will remain key factors influencing the precious metal’s long-term direction.
Jewellers advised customers to verify daily rates before making purchases, as gold prices can change frequently in response to developments in international markets. Dealers also recommended buying from certified sellers to ensure purity and authenticity.
The association updates official gold prices daily based on movements in the international bullion market and prevailing exchange rates. As a result, local prices may fluctuate from one trading session to another depending on global market conditions.
Market observers said investors will continue watching upcoming economic data and policy announcements from major economies, which could influence bullion prices in the coming days. Any significant shift in inflation expectations, interest rates, or geopolitical tensions is likely to affect gold’s performance both internationally and in Pakistan.
For now, the latest decline has provided temporary relief for consumers and jewellery buyers, although traders caution that volatility is expected to continue as global financial markets react to economic and political developments. Industry experts believe the precious metal will remain sensitive to international trends, making further price adjustments possible in the days ahead.
