Karachi: Gold prices in Pakistan declined on Thursday, June 11, following a downward trend in the international bullion market. The drop reflects shifting global investor sentiment as precious metal prices come under pressure worldwide.
According to Beyond Time News, local gold rates moved lower in line with international price corrections, which affected trading activity in domestic markets across Pakistan.
Sharp Decline in Local Gold Rates
The All Pakistan Sarafa Gems and Jewellers Association (APSGJA) reported a significant reduction in gold prices.
The price of 24-karat gold per tola fell by Rs9,720. It dropped to Rs432,716 from the previous Rs442,436.
Similarly, the price of 10 grams of 24-karat gold declined by Rs8,748. It settled at Rs369,422 compared to Rs378,170 in the last trading session.
Market participants noted that the decline was one of the sharper single-day movements in recent sessions.
International Gold Market Also Falls
Global bullion prices also weakened, which directly influenced domestic rates.
Gold prices in the international market dropped by $97 per ounce. They moved down to $4,102 from $4,200 in the previous session.
According to Beyond Time News, international markets are reacting to changing investor expectations and short-term profit-taking after recent price gains.
Silver Prices Follow Downward Trend
Silver prices also declined in the local market.
The price of silver per tola decreased by Rs40. It fell to Rs6,889 from the previous level.
Traders said silver often follows gold price movements. Therefore, it also came under pressure during the same trading session.
Market Factors Behind the Decline
Analysts linked the drop in precious metal prices to fluctuations in global financial markets. They said investors are adjusting positions after recent volatility.
At the same time, safe-haven demand remains active due to ongoing geopolitical uncertainty. Investors continue to monitor tensions in the Middle East, including developments involving Iran, Israel, and Lebanon.
According to Beyond Time News, these geopolitical risks continue to influence commodity and energy markets, including gold and silver.
Read more:Gold Prices Fall Sharply in Pakistan as Global Bullion Market Faces Heavy Selling Pressure
Investor Sentiment Remains Mixed
Market experts said gold continues to attract long-term investors. However, short-term price swings are creating uncertainty in daily trading.
They added that gold still plays an important role as a hedge against inflation and currency depreciation. It also remains a preferred asset during periods of global instability.
Despite recent declines, analysts expect demand to stay supported. They point to ongoing geopolitical tensions and volatile energy markets as key drivers.
Outlook for Precious Metals
Traders expect continued fluctuations in gold prices in the coming weeks. Global economic data, interest rate expectations, and geopolitical developments will likely guide market direction.
According to Beyond Time News, long-term fundamentals for gold remain stable. However, short-term volatility is expected to continue.
Investors are advised to monitor international market signals closely before making trading decisions.
FAQs
Why did gold prices fall in Pakistan?
Gold prices fell due to a decline in the international bullion market and global price adjustments.
What is the new price of gold per tola in Pakistan?
The price of 24-karat gold per tola is Rs432,716.
How much did international gold prices drop?
International gold prices fell by $97 per ounce.
Did silver prices also change?
Yes, silver prices in Pakistan dropped by Rs40 per tola.
Will gold prices rise again?
Analysts say long-term demand remains strong, but short-term volatility is expected.
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