Gold prices fell on Friday, as both international and Pakistani markets experienced technical corrections and investors engaged in profit-taking. While gold prices dropped, silver prices remained stable, indicating that the volatility was influenced by global economic and geopolitical factors. This downturn follows a dramatic six-month rally that saw gold reach record highs.
According to market analysts, international gold prices dropped $13 per ounce to $3,263 as traders engaged in short-term profit booking after recent peaks. In Pakistan, 24-karat gold per tola decreased by Rs1,300 to Rs344,500, while 10 grams fell by Rs1,114 to Rs295,353. Silver prices remained unchanged, with per tola at Rs3,427 and 10 grams at Rs2,938.
Adnan Agar, Director of Interactive Commodities, noted gold’s volatile six-month journey. It rose from $2,750 in November to a peak of $3,500 before settling around $3,263. In Pakistan, prices climbed from Rs295,000 to Rs350,000 per tola, then eased to Rs346,000, closely tracking global trends.
Factors For Gold Volatility
Gold’s safe-haven status has fueled demand amid geopolitical tensions, including the Russia-Ukraine war, the Israel-Hamas conflict, and the US-Iran hostilities. Political uncertainty in the US, particularly Donald Trump’s tariff policies, further boosted gold’s appeal.
Analysts predict continued short-term volatility due to shifting investor sentiment and global instability. Despite recent declines, gold’s role as a safe-haven asset ensures sustained interest, especially during crises.
Read: Gold Prices Drop in Pakistan and Globally Amid Profit-Taking
Gold prices in Pakistan and worldwide have dipped due to market corrections, but the metal’s safe-haven allure persists amid geopolitical and economic challenges. As investors navigate volatility, gold remains a critical asset in uncertain times, with Pakistan’s market closely aligned with global trends.
