Gold prices in Pakistan moved lower on Friday, tracking a decline in the international market and breaking a brief upward trend seen a day earlier.
According to data released by the All-Pakistan Gems and Jewellers Sarafa Association, the price of gold per tola dropped to Rs467,816 after a fall of Rs1,469 during the day. The price of 10 grams of gold also eased, settling at Rs401,012 after a decrease of Rs1,323.
Just a day earlier on Thursday, gold had climbed to Rs469,285 per tola after gaining Rs1,523, showing how quickly prices have been shifting in line with global movements.
In the international market, gold also came under pressure. The global rate slipped by $14 to reach $4,453 per ounce, including a $20 premium. Spot gold was last recorded slightly lower at $4,461.28 per ounce, reflecting a weekly decline of around 1.6 percent. US gold futures for August delivery also edged down.
The dip comes as global investors react to mixed signals from geopolitical tensions and expectations around interest rates in the United States. Uncertainty in the Middle East has clouded hopes of a wider peace breakthrough, while ongoing conflict-related risks continue to influence safe-haven demand for gold.
At the same time, expectations that US interest rates could remain higher for longer have added further pressure on the precious metal. Higher rates tend to reduce the appeal of gold, which does not offer any return.
Local jewellers say the frequent ups and downs are making it harder for buyers to plan purchases, especially for weddings and savings. Many consumers are delaying buying gold in hopes of a clearer direction in prices, while small investors remain cautious amid global uncertainty.
Silver also saw a decline in the local market, dropping Rs67 per tola to settle at Rs7,730.
Analysts expect gold prices to remain sensitive in the coming days, with investors closely watching upcoming US economic data that could shape the next move in global interest rate expectations.
