Gold prices fall again amid market volatility

KARACHI: Gold prices have dropped once more, continuing the recent trend of fluctuations in both domestic and international markets.

After a brief rebound of Rs 1,800 in the previous trading session following a five-day consecutive decline, gold prices fell sharply today. The price of gold per tola declined by Rs 3,300, bringing it down to Rs 4,30,362. Meanwhile, the price of ten grams of gold fell by Rs 2,829, now trading at Rs 3,68,966.

In the global market, gold also slipped, losing $33 to trade at $4,080 per ounce. Silver prices dropped by Rs 27, reaching Rs 5,097.

Market analysts note that gold has experienced significant volatility in recent days. On October 18, the metal saw a major fall of Rs 10,600, shortly after a record surge in its price.

Investors are advised to monitor market trends closely as global and domestic factors continue to influence precious metal prices.

Previously, gold prices climbed on Saturday in Pakistan, following an upward trend in the global market that pushed rates higher after a brief dip a day earlier. According to the All-Pakistan Gems and Jewellers Sarafa Association (APGJSA), the price of gold had increased by Rs 1,800 per tola, taking it to Rs 433,662. Similarly, the price of 10-gram gold increased by Rs 1,543, reaching Rs 371,795. However, on Monday, the prices followed a downward trend again.