Gold prices dropped in Pakistan and international markets as the country’s economic indicators showed improvement.
- 10 grams of gold: Down by Rs1,286, now priced at Rs239,455.
- One tola (approximately 11.66 grams): Down by Rs1,500, now priced at Rs279,300.
In the international market, gold prices fell by $15, bringing the price to $2,675 per ounce.
Factors Influencing Gold Prices
- Global Factors: Supply-demand dynamics, geopolitical stability, currency fluctuations, and economic indicators like inflation and interest rates.
- Local Market Dynamics: Import duties, local demand, and currency exchange rates.
The London Bullion Market Association (LBMA) sets global benchmark prices for gold twice daily, factoring in trading activities and transactions among major financial entities. Local markets adjust based on regional economic factors.
