Gold prices in Pakistan fell on Wednesday, following declines in the international market. The price per tola dropped by Rs1,000 to Rs443,162. Similarly, 10-gram gold fell by Rs858, reaching Rs379,939, according to the All-Pakistan Gems and Jewellers Sarafa Association (APGJSA).
On Tuesday, gold per tola had already declined by Rs2,700 to Rs444,162. The local drop mirrors global trends, where international gold fell by $10 to $4,208 per ounce, with a $20 premium. Silver prices, however, increased by Rs81 to Rs6,085 per tola.
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Internationally, gold regained some ground as investors anticipate a Federal Reserve rate cut. Spot gold rose 0.4% to $4,222.22 per ounce as of early Wednesday, after falling more than 1% in the previous session. US gold futures for December delivery increased by 0.8% to $4,252.90 per ounce.
Analysts said market movements are influenced by global economic data and central bank policies. They noted that expectations of easing US interest rates often encourage investors to buy precious metals as a hedge.
Read more: Gold prices dip in Pakistan following global trend
Experts advise buyers and investors to watch international trends closely. They also suggest caution in local trading, as prices remain volatile and sensitive to global economic shifts.