Gold prices in Pakistan witnessed a sharp correction on Saturday, following a major decline in international bullion markets. After reaching record highs a day earlier, the precious metal saw a steep fall driven by global market pressures and profit-taking trends.
Gold Prices Drop Sharply Nationwide
According to market data, gold prices in Pakistan dropped by Rs10,600 per tola, bringing the new rate to Rs446,300 per tola. Similarly, the price of 10 grams of gold decreased by Rs8,331, settling at Rs382,630. This notable decline came after global gold prices tumbled by $106 per ounce, taking the international rate down to $4,252 per ounce.
Traders and analysts attributed the decline to a sudden correction in the international gold market, where investors reacted to expectations of interest rate adjustments and a stronger dollar.
Silver Shows Mixed Trends
Silver prices reflected mixed market behavior. The price of one tola of silver fell by Rs231, reaching Rs5,273, while the price of 10 grams of silver increased by Rs198, bringing it to Rs4,520. Globally, silver traded at $51.86 per ounce, mirroring the volatile sentiment seen in gold markets.
A Major Reversal After Record-Breaking Surge
Friday’s session had marked a historic moment for Pakistan’s gold market, when prices had surged by Rs14,100 per tola, reaching a record high of Rs456,900. The surge was driven by escalating global uncertainties and rising investor demand for safe-haven assets. However, the sharp correction on Saturday has largely reversed those gains.
Analysts Expect Continued Volatility
Market experts suggest that gold prices may continue to fluctuate in the coming days as investors monitor global economic indicators, inflation data, and monetary policy signals from major central banks.
“The recent correction is part of a normal market cycle,” said a Karachi-based bullion trader. “As international rates stabilize, we expect local prices to follow global trends, maintaining short-term volatility.”
Gold Market Outlook
Despite the current dip, analysts maintain that gold remains a key hedge against inflation and geopolitical uncertainty. In Pakistan, local demand for gold is likely to pick up again ahead of the upcoming wedding season, which traditionally drives higher jewelry purchases.
Moreover, global economic uncertainty continues to influence bullion markets, suggesting that price fluctuations may persist through the remainder of the year.
The sharp fall in gold prices in Pakistan reflects the sensitivity of local markets to global movements. While the correction offers temporary relief to buyers, ongoing economic shifts may keep the precious metal on a volatile path.
