Gold prices fell in Pakistan on Friday, tracking a weak trend in the international market as selling pressure continued in bullion trading.
According to the latest rates shared by the All-Pakistan Gems and Jewellers Sarafa Association (APGJSA), 24-karat gold was sold at Rs438,036 per tola, down Rs14,900 in a single day. The price of 24-karat gold per 10 gram stood at Rs374,205 after a decline of Rs13,410.
Meanwhile, 22-karat gold also moved lower and was quoted at Rs343,325 per 10 gram in the local market.
Silver prices followed the same direction. The 24-karat silver rate dropped to Rs6,946 per tola, marking a fall of Rs413, while the per 10 gram price slipped to Rs5,895 after a decline of Rs373.
Global pressure keeps bullion under strain
In international trading, spot gold hovered near $4,164 per ounce, showing a drop of around $22.9 or 0.55 percent from the previous session. Earlier in the day, prices touched their lowest level since June 11, reflecting continued weakness in the precious metal.
The decline comes as the US dollar strengthens and investors react to a cautious outlook from policymakers at the Federal Reserve. A stronger dollar typically makes gold more expensive for buyers using other currencies, reducing demand.
US gold futures also moved lower, falling 1.2 percent to $4,192.80 per ounce.
Market analysts say expectations of a “higher for longer” interest rate stance are keeping pressure on gold, which does not offer any yield. Some traders are now pricing in a significant chance of a rate move in the coming months, adding further uncertainty to the outlook.
A senior market analyst at Jefferies-owned Tradu.com, Nikos Tzabouras, noted that gold could face further downside risk if interest rate expectations remain elevated, as that environment tends to support the dollar while weighing on non-yielding assets like gold.
Policy signals and global tensions in focus
Attention in the bullion market is also centred on upcoming economic data and geopolitical developments. Investors are closely watching inflation figures from the US as well as signals from the central bank, which could influence the direction of interest rates.
The outlook is also being shaped by uncertainty around global political tensions, including discussions linked to the Middle East, which continue to shift investor sentiment between safe-haven buying and profit-taking.
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