Gold prices in Pakistan dropped on Thursday, following a decline in the global market. According to the All-Pakistan Gems and Jewellers Sarafa Association (APGJSA), the price of gold per tola fell by Rs11,000 to Rs468,262. Meanwhile, 10-gram gold was sold at Rs401,459 after a decrease of Rs9,430.
On Wednesday, gold had reached Rs479,262 per tola, gaining Rs15,200 during the day. Silver also saw a decline, with its price falling by Rs340 to Rs7,484 per tola.
International market trends
Globally, gold prices slipped after two days of gains as investors awaited clearer signs of easing tensions in the Middle East, a factor that could influence financial and monetary policies worldwide. Spot gold fell 1 percent to $4,476.51 per ounce, while US gold futures for April delivery dropped 2.1 percent to $4,457.
US President Donald Trump claimed Iran was eager to reach a deal to end nearly four weeks of conflict, a statement that contradicted the Iranian foreign minister, who said Tehran was reviewing a US proposal but had no intention of negotiating a halt to the fighting.
Analysts expect gold prices to react to news in the short term, with bigger movements likely early next week if the US pursues a ground invasion in Iran.
Energy markets added to the uncertainty, as Brent crude prices climbed back above $100 a barrel amid fears that ongoing Middle East tensions could disrupt oil and gas supplies. Higher crude prices typically push inflation up, which can boost gold demand, though rising interest rates limit appetite for non-yielding assets like gold.
Other metals also fell on Thursday. Spot silver dropped 1.9 percent to $69.90 per ounce, platinum declined 1.4 percent to $1,893.60, and palladium lost 2 percent, trading at $1,394.83.
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