The gold price today recorded a significant drop across Pakistan, creating notable changes in the jewelry market.
According to the All Pakistan Sarafa Association, the price of one tola gold fell by 11,000 rupees, reaching 468,262 rupees. Similarly, 10 grams of gold dropped by 9,430 rupees to 401,459 rupees.
Internationally, gold also saw a decline. The price per ounce fell by 110 dollars to 4,455 dollars.
Silver prices also decreased. One tola of silver is now 7,484 rupees, down 340 rupees, while 10 grams cost 6,416 rupees after a 291-rupee drop. Globally, silver is now trading at 70 dollars per ounce.
Experts say this decline is unusual. Despite tensions in the Middle East and potential energy crisis effects, gold is losing value. The main reason is pressure from US inflation and expected interest rate hikes, which strengthens the dollar and makes bonds more attractive to investors.
Additionally, gold purchases in major markets, especially in Gulf states and the Middle East, have dropped, affecting supply and demand and increasing price pressure.
Analysts note that gold is now approximately 25 percent below its historical peak, indicating a major trend in both global and local markets.
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