Gold prices continued their downward trend on Thursday, recording sharp declines in both domestic and international markets amid ongoing volatility in global commodity trade. According to the All Pakistan Sarafa Gems and Jewellers Association, the price of gold per tola dropped by Rs9,720, bringing the new rate to Rs432,716. The price of 10 grams of gold also recorded a substantial decrease of Rs8,748, settling at Rs369,422.
International Market Impact
Internationally, gold prices weakened as well, with the value of the precious metal falling by $40 per ounce in the global bullion market. Following the decline, the international rate stood at $6,889 per ounce. The latest decrease comes a day after gold prices shed Rs12,627 per tola, closing at Rs442,436.
Analyst Insights
Analysts said the domestic market continues to mirror trends in the international bullion sector, where fluctuating investor sentiment and changing commodity market dynamics have contributed to recent price movements. The decline also extends a broader downward trend observed earlier this month, with gold prices posting losses on June 6 and June 8 in both local and global markets.
Experts noted that ongoing shifts in international commodity prices remain a key factor influencing gold rates in Pakistan, resulting in continued volatility for investors and traders.
