KARACHI: Gold prices in Pakistan recorded a notable decline, with the price of 24-karat gold falling by Rs2,700 per tola, reflecting a downward trend in international markets.
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According to market data, the new price of gold settled at approximately Rs444,162 per tola, compared to Rs446,862 in the previous session. Similarly, the price of 10 grams of gold decreased by Rs2,315, bringing it down to around Rs380,797.
The decline in local gold prices mirrors movements in the global market, where international gold prices dropped by around $27 per ounce, reaching approximately $4,218. The fall is largely attributed to rising US Treasury yields and profit-taking by investors after recent gains.
Higher bond yields tend to reduce the appeal of non-yielding assets such as gold, prompting investors to shift towards interest-bearing instruments. Additionally, market participants remain cautious ahead of key economic data, which could influence future monetary policy decisions.
Meanwhile, in contrast to gold, silver prices increased in the local market, rising by Rs41 per tola to reach Rs6,004, indicating mixed trends within the precious metals segment.
Analysts note that gold prices are likely to remain sensitive to global economic indicators, particularly interest rate expectations and currency movements. Any further strengthening of the US dollar or increase in yields could continue to exert downward pressure on bullion prices in both international and domestic markets.
