Local Gold Market Remains Stable
Gold prices in Pakistan maintained stability on Tuesday, with the local rate standing firm at Rs. 444,900 per tola, according to the All-Pakistan Gems and Jewellers Sarafa Association (APGJSA). The 10-gram gold rate also remained unchanged at Rs. 381,430, following a minor decline of Rs. 1,200 recorded the previous day.
Price Fluctuations and Market Sentiment
Earlier this week, gold prices had dropped by Rs. 1,400 per tola, but the market has since steadied. Experts suggest that local investors are cautiously monitoring international market trends and currency fluctuations, which continue to influence Pakistan’s gold rates. The silver market also showed no movement, with silver per tola priced at Rs. 5,261.
Global Gold Trends
On the international front, gold prices slightly dipped as global investors booked profits after reaching record highs in the previous session. According to APGJSA, international gold was valued at $4,235 per ounce, including a $20 premium.
Meanwhile, spot gold slipped 0.3% to $4,340.29 per ounce as of 0248 GMT, down from Monday’s historic high of $4,381.21 per ounce. Similarly, U.S. gold futures for December delivery edged lower by 0.1% to $4,356.40 per ounce.
What’s Driving the Gold Market
Analysts say the recent record rally in gold prices was fueled by expectations of interest rate cuts from the U.S. Federal Reserve and growing safe-haven demand amid global economic uncertainty. While the market has slightly cooled, gold remains one of the most attractive investment options for investors seeking stability.
Conclusion
With gold prices staying above Rs. 444,000 per tola, Pakistan’s market continues to reflect the volatility of global trends. Investors and jewellery buyers are keeping a close eye on upcoming economic decisions and U.S. rate policies, which are likely to shape the next movement in gold prices.
