Gold prices in Pakistan declined on Tuesday, with 24-karat gold trading at Rs317,800 per tola after a drop of Rs800. The price per 10 grams also saw a reduction, selling at Rs272,462 following a decline of Rs686, as per the All-Pakistan Gems and Jewelers Sarafa Association (APGJSA).
Key Points for Gold Price:
- 24-Karat Gold: Rs317,800 per tola (-Rs800)
- 10-Gram Gold: Rs272,462 (-Rs686)
- 22-Karat Gold: Rs249,765 per 10 grams
- 24-Karat Silver: Rs3,475 per tola (No change)
- 10-Gram Silver: Rs2,979 (No change)
Gold Market Trends
The decline in gold prices aligns with global trends, where spot gold hovered near $3,020 per ounce, marking a gain of $10.8 or 0.36% from the previous session. The movement in gold rates is largely influenced by global economic uncertainty, inflation concerns, and fluctuations in the value of the U.S. dollar.
Impact of Global Factors
Gold prices gained traction as investors sought safe-haven assets amid uncertainty regarding U.S. tariffs. Market sentiment remains cautious due to concerns over potential economic slowdowns and inflationary pressures. These global dynamics directly impact gold prices in Pakistan, reflecting changes in international bullion rates and currency exchange trends.
Technical Insights
- Support Level: Gold prices currently hold support at Rs317,000 per tola.
- Resistance Level: The immediate resistance is observed near Rs320,000 per tola.
- Market Volatility: Investors are closely monitoring global economic developments to assess short-term price movements.
Outlook on Gold Prices
Given the ongoing global economic challenges and monetary policies, gold prices may experience fluctuations in the near term. Traders and investors should stay informed about market updates and trends to make well-informed investment decisions.
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