Gold prices decline in Pakistan

KARACHI: Gold prices in Pakistan experienced a decline on Monday, January 27, 2025, mirroring the drop in international rates, ARY News reported.

According to All Sindh Sarafa Jewellers Association, the gold prices saw a decline in the local market, with the price of a single tola dropping by Rs300. The new price for one tola of gold is now Rs2,89,100.

Similarly, the price of 10 grams of gold decreased by Rs257, bringing the price of 10 grams to Rs2,47,856.

The price of silver also decreased by Rs14 to Rs3,395 rupees per tola and the price of 10 grams of silver declined by Rs12 to Rs2910.

In the international market, the price of gold also fell as the U.S. dollar edged down, while investors turned their attention to the Federal Reserve’s first policy meeting this year for clues about the future path of interest rates.

Spot gold was down 0.1% at $2,766.59 per ounce as of 1210 GMT, after falling as much as 0.7% earlier in the session. U.S. gold futures fell 0.3% to $2,771.40 per ounce.

Gold, a highly valued precious metal, has maintained its significance for centuries and plays a vital role in the global economy.

Its value stems from its scarcity, durability, and widespread appeal. Frequently regarded as a safe-haven asset, gold is employed to preserve wealth during times of economic instability.

Central banks and investors maintain gold reserves to diversify their investment portfolios and protect against inflation and currency value fluctuations.

The inherent allure and limited availability of gold render it a sought-after material for jewellery and luxury items. The demand for gold jewellery stimulates economic activity across the mining, manufacturing, and retail sectors.

Gold prices decline in Pakistan - January 27, 2025