Gold prices in Pakistan experienced a slight decline on Wednesday, reflecting a mixed trend in the international market. As reported by the All-Pakistan Gems and Jewellers Sarafa Association (APGJSA), the price of gold per tola in the local market decreased marginally to Rs. 446,600, marking a reduction of Rs. 10 over the last 12 hours. Similarly, the price for 10 grams of gold saw a minor decrease, with the latest figures indicating a price of Rs. 382,725.
The small dip in local gold prices comes after gold opened at $4,209.20 per ounce in the international market. By mid-day, the price had eased to $4,207.97 per ounce, reflecting a $1.23 decrease. Despite the day starting with higher volatility, with prices peaking at $4,228.88 and dipping to a low of $4,194.33, the market stabilized somewhat as the day progressed.
In parallel, silver prices in Pakistan also experienced a reduction. The rate for silver per tola declined slightly to Rs. 5,209, as trading activity remained subdued amid fluctuating international trends.
Globally, the gold market has been under pressure due to mixed economic signals and investor sentiment. The slight decrease in gold prices reflects a cautious approach by investors, who are weighing the potential impacts of ongoing geopolitical tensions and economic forecasts.
In trading over the last 12 hours, the Pakistani market’s pcsBuy rate started at Rs. 446,610 and saw minor fluctuations, ultimately settling at Rs. 446,600. This minor reduction mirrors the global sentiment, where investors remain vigilant, awaiting clearer signals from major economies.
While the current trend shows a slight decrease, market analysts suggest keeping an eye on upcoming economic data releases, which could influence both local and international gold price movements. For now, traders and investors in Pakistan are advised to stay informed of global market trends and adjust their strategies accordingly.
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