Gold prices in Pakistan experienced a downturn on Thursday, mirroring a decrease in the international market. In the local market, the price of gold per tola fell to Rs. 446,770, marking a decline of Rs. 280 compared to the day start rate, according to rates provided by the All-Pakistan Gems and Jewellers Sarafa Association (APGJSA).
Over the last 6 hours, gold opened at Rs. 447,050 per tola and showed a consistent decline throughout the trading period. Similarly, the price for 10 grams of gold saw a downward adjustment, reflecting the overall weaker trend in the market.
Internationally, gold prices also witnessed a notable decrease, with the global rate dropping from $4,206.09 per ounce at the start of the trading day to $4,194.78 per ounce. This $11.31 decrease reflects the ongoing volatility and uncertainty in the global markets, impacting local prices significantly.
Silver prices in the local market showed a slight downward trend as well, falling by Rs. 0.19 to Rs. 58.26 per tola. This movement aligns with the international market trends where silver faced similar downward pressures.
The decline in gold prices is largely attributed to fluctuations in the international market, where investors are reacting to potential shifts in global economic policy and currency valuations. The weakening of gold prices could be indicative of broader economic concerns that are impacting investor confidence worldwide.
As the day progresses, market participants will be closely monitoring any developments that may influence precious metal prices. It remains to be seen whether these trends will stabilize or if further fluctuations will occur. For now, the market remains vigilant, with all eyes on international cues that could impact local pricing dynamics.
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