KARACHI – In a major development tied to shifting global economic dynamics, particularly the ongoing US-China tariff tensions, gold prices have experienced a record-breaking decline both in Pakistan and international markets.
According to the All Pakistan Sarafa Gems and Jewellers Association, the price of 24-karat gold per tola dropped by Rs11,700, settling at Rs352,000. Likewise, the rate for 10 grams of 24-karat gold fell by Rs10,031, reaching Rs301,783.
International Markets Follow Similar Trend
Globally, gold prices saw a substantial drop, with the price per ounce decreasing by $116, bringing the international rate down to $3,338. Analysts point to escalating trade uncertainties and currency fluctuations as key factors behind the sharp downturn.
Silver Prices on the Rise
In contrast to gold, silver prices have seen an upward trend. In Pakistan, the price of 24-karat silver per tola increased by Rs16, now standing at Rs3,457, while the price for 10 grams rose by Rs13 to Rs2,963.
On the global front, the international price of silver increased by $0.16, reaching $32.93 per ounce.
What’s Behind the Price Shift?
Experts suggest that the dramatic drop in gold prices may be linked to increased volatility in global trade relations, particularly the tariff-related developments between the United States and China. These tensions are prompting rapid shifts in investor sentiment and adjustments across commodity markets.
While gold is traditionally seen as a safe-haven asset, fluctuations in demand and strategic market moves by major economies can lead to significant price corrections, such as the one currently being observed.
Investors and consumers are advised to stay informed and exercise caution when making decisions in the current market environment, given the potential for continued price swings.
