Gold Falls by Rs 7,500 per Tola in Pakistan

Gold prices in Pakistan continued their downward streak on Wednesday as the international market weakened and the US dollar gained more ground. According to the All Pakistan Gems and Jewellers Association (APGJA), the price of 24-carat gold dropped by Rs 7,538 per tola, settling at Rs 437,362 in the local market.

The 10-gram price of 24-carat gold also fell by Rs 6,460, reaching Rs 374,960.

Dollar Strength and Global Rates Pressure Gold

Analysts attribute the latest decline to global gold price corrections and the rising strength of the US dollar, which has dampened demand for the precious metal. In the international market, gold per ounce dipped by US $85, trading at around US $4,150.

Experts believe the global economic outlook, combined with high-yield investments, is pushing investors away from gold in the short term.

Jewellers Report Slow Sales Across Pakistan

Despite the price drop, demand remains slow in major cities including Karachi, Lahore, and Islamabad. Many jewellers say customers are still hesitant due to economic uncertainty and inflation, even as prices fall.

“This decline may look attractive, but people are prioritizing essentials over jewellery,” said a local jeweller in Karachi’s Saddar market.

 Should You Buy Gold Now?

Experts suggest that this could be a good opportunity for long-term investors to enter the market while prices are low. However, short-term volatility is expected to continue until the global market stabilizes.

Financial analysts recommend keeping an eye on currency movements and international rate trends before making large investments.

Outlook Ahead

If the dollar remains strong, analysts expect gold to stay under pressure in the coming days. However, any signs of global interest rate cuts or a weakening dollar could trigger a rebound in gold prices.

For now, both traders and investors are adopting a wait-and-see approach as the market adjusts to shifting global conditions.

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