Gold prices witness weekly decline in Pakistan amid market volatility

At the start of the week, the price of 24-karat gold stood above Rs. 504,000 per tola. However, a sharp drop was observed midweek, with prices falling by more than Rs. 5,000 per tola around April 23. Following this decline, the market showed a slight recovery, but rates remained below earlier levels.

By the end of the week, gold prices stabilized in the range of approximately Rs. 494,000 to Rs. 496,000 per tola, indicating an overall downward trend compared to the beginning of the week.

Market analysts attribute this fluctuation to changes in global gold prices, the strengthening of the US dollar, and ongoing economic uncertainties. Internationally, gold also experienced a weekly dip, which directly impacted local rates.

Despite minor recoveries, experts suggest that the gold market is likely to remain volatile in the short term, with further price movements depending on global economic conditions and currency trends.