Gold and silver c recorded a decline on Monday across both international and domestic markets, reflecting ongoing fluctuations in global bullion trends and investor sentiment.
In the international bullion market, the price of gold per ounce fell by $38, bringing it down to $4,576. This downward movement had a direct impact on local markets in Pakistan, where gold prices also witnessed a notable drop.
According to market data, the price of gold per tola in local Sarafa markets decreased by Rs3,800, settling at Rs479,962. Similarly, the price of 10 grams of gold declined by Rs3,257, reaching Rs411,490. Traders attributed the decline to a combination of global price corrections and currency dynamics affecting import costs.
Silver prices also followed a downward trend in domestic markets. The price of silver per tola dropped by Rs100, bringing it to Rs7,914. Meanwhile, the rate for 10 grams of silver decreased by Rs86, settling at Rs6,784.
Market analysts note that fluctuations in precious metal prices are often influenced by global economic indicators, including inflation expectations, interest rate outlooks, and currency strength, particularly the performance of the U.S. dollar. A stronger dollar typically puts pressure on gold prices, making it more expensive for investors holding other currencies.
In addition, geopolitical developments and shifts in investor demand for safe-haven assets continue to play a significant role in determining market direction. While gold is traditionally seen as a hedge against economic uncertainty, short-term price movements can vary based on market sentiment and profit-taking activities.
Local traders said that the decline in prices may provide temporary relief to buyers and investors looking to enter the market. However, they cautioned that volatility is likely to persist in the near term, given the uncertain global economic environment.
The precious metals market remains closely tied to international trends, and any further movement in global bullion prices is expected to be quickly reflected in domestic rates.
