Gold prices in Pakistan experienced a decline on Wednesday, reflecting a downward trend in the international market. In the local market, the price of gold per tola decreased to Rs. 445,250, marking an increase of Rs. 380 from the start of the day, according to rates shared by the All-Pakistan Gems and Jewellers Sarafa Association (APGJSA). This comes after the gold per tola was recorded at Rs. 444,870 at the beginning of the trading day.
In trading over the last 12 hours, gold prices have shown a decline in the international markets as well. The latest data indicates a drop to $4,197.50 per ounce, a decrease of $13.90 from the day start level of $4,211.40. This downward movement in the international market is influencing the local market trends, leading to adjustments in the buying rates.
Silver prices in the local market also witnessed a minor increase. The price for silver per tola rose to Rs. 61.03, up from Rs. 60.79 earlier in the day, showing a modest upward trend.
Globally, precious metals are navigating a period of volatility, with market participants closely watching economic indicators and geopolitical developments. The global gold market’s current trajectory is impacted by a stronger US dollar and expectations around interest rate policies. These factors contribute to the prevailing cautious sentiment among investors, leading to fluctuations in gold prices across the board.
As the day progresses, market analysts will be monitoring whether these trends continue, particularly in light of any new economic data or shifts in international market dynamics. For now, both local and international markets reflect a state of flux, with traders and investors adapting to the changing economic landscape.
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