Gold prices in Pakistan witnessed a downturn on Monday, reflecting a subdued performance in the international market. In the local market, the price of gold per tola decreased to Rs. 443,850, marking a drop of Rs. 2,230 from the start of the day, as per the latest figures from the All-Pakistan Gems and Jewellers Sarafa Association (APGJSA). Similarly, the price for 10 grams of gold followed suit, aligning with the broader downward trend.
In trading over the last 15 hours, the international gold price showed a decline, settling at $4,196.75 per ounce, down by $4.65 from the opening level. This decrease was mirrored in the local gold rates, influencing investor sentiment and market dynamics in Pakistan.
The silver market also experienced fluctuations, with the price per tola slightly decreasing. Silver prices in the local market edged down by Rs. 0.28 to reach Rs. 58.16, reflecting minor adjustments amid broader market trends.
Globally, gold prices faced pressure as market participants responded to mixed signals from economic data and geopolitical developments. The international market’s subtle decline influenced local markets, with investors remaining cautious amid fluctuating demand and supply dynamics.
As the day progresses, market analysts will be closely monitoring these trends, as further movements in international rates could significantly impact the local pricing. The APGJSA continues to provide updated evaluations, ensuring that stakeholders remain informed about the evolving market conditions.
Overall, today’s market activity highlights the interconnected nature of local and global precious metals markets, where changes in international trends often resonate within domestic markets. Investors are advised to keep abreast of these developments as they navigate the complex landscape of commodity trading.
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