Gold prices decline in Pakistan - June 11

KARACHI: Gold prices in Pakistan fell on Thursday, June 11, in line with a downward trend in the international bullion market.

According to rates issued by the All Pakistan Sarafa Gems and Jewellers Association (APSGJA), the price of 24-karat gold per tola decreased by Rs9,720 to Rs432,716, compared with Rs442,436 in the previous trading session.

Similarly, the price of 10 grams of 24-karat gold declined by Rs8,748 to Rs369,422 from Rs378,170.

In the international market, gold prices fell by $97 per ounce to $4,102, down from $4,200 in the previous session.

Silver prices also registered a decline in the local market. The price of silver per tola dropped by Rs40 to Rs6,889.

Market analysts attributed the decline in precious metal prices to fluctuations in global markets, despite continued investor interest in safe-haven assets amid geopolitical uncertainty.

Investors are closely monitoring developments in the Middle East, including tensions involving Iran, Israel, and Lebanon, which continue to influence commodity and energy markets worldwide.

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Analysts said that while gold prices have witnessed short-term volatility, the metal’s long-term outlook remains positive due to its traditional role as a hedge against inflation, currency depreciation, and geopolitical risks.

They added that ongoing geopolitical uncertainty and volatility in energy markets are likely to keep investor demand for gold supported in the coming months.