Gold prices slipped in Pakistan on Thursday, reflecting a broader downturn in global markets amid shifting geopolitical signals and stronger economic pressures.
According to the All-Pakistan Gems and Jewellers Sarafa Association (APGJSA), the price of 24-karat gold dropped to Rs486,962 per tola, marking a decline of Rs7,100 in a single day. Similarly, 24-karat gold per 10 grams fell by Rs6,087 to settle at Rs417,491.
Prices of 22-karat gold also followed the downward trend, with 10 grams quoted at Rs382,713. Silver did not remain unaffected either, as rates softened across the board. The price of 24-karat silver declined to Rs7,634 per tola, down Rs350, while 10 grams were recorded at Rs6,544 after shedding Rs300.
The local market movement came in line with a sharp fall in international gold prices, which retreated from a two-week high. Spot gold dropped to around $4,622 per ounce, sliding more than 2.8 percent, after earlier losses exceeded 4 percent. US gold futures also eased, falling about 3.4 percent.
Market sentiment turned negative following remarks by US President Donald Trump, who indicated that military operations against Iran would continue in the coming weeks. The comments shifted investor focus back to geopolitical tensions, while also affecting expectations around global monetary policy.
Analysts noted that the statement triggered a broader reaction in financial markets, pushing oil prices higher while strengthening the US dollar and Treasury yields. These factors, in turn, weighed heavily on gold, which tends to move inversely to such indicators.
Brent crude surged by more than 6 percent after concerns emerged over possible targeting of Iran’s energy infrastructure, raising fears about global supply disruptions. At the same time, rising yields and a firmer dollar reduced the appeal of gold, which does not generate returns.
Gold had already faced pressure in recent weeks, with March marking its worst monthly performance in years after tensions in the Middle East escalated. Despite the usual appeal of gold during uncertain times, higher interest rates and persistent inflation worries have limited its upside.
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