{"id":5900,"date":"2025-05-02T15:04:45","date_gmt":"2025-05-02T15:04:45","guid":{"rendered":"https:\/\/ipp-news.com\/?p=5900"},"modified":"2025-05-02T15:04:45","modified_gmt":"2025-05-02T15:04:45","slug":"gold-prices-recede-further-in-local-and-international-markets","status":"publish","type":"post","link":"https:\/\/ipp-news.com\/?p=5900","title":{"rendered":"Gold prices recede further in local and international markets"},"content":{"rendered":"
The downward trend in gold prices continued on Friday in both international and domestic markets, driven by technical corrections and profit-taking by investors.<\/p>\n

In the international bullion market, the price of gold fell by another $13 per ounce, bringing it down to $3,263. Analysts attribute the decline to ongoing market corrections and short-term profit booking by traders after recent highs.<\/p>\n

Similarly, local gold prices in Pakistan also saw a notable decrease. The price of 24-karat gold fell by Rs1,300 per tola, settling at Rs344,500. The price for 10 grams of 24-karat gold dropped by Rs1,114, bringing it down to Rs295,353.<\/p>\n

In contrast, silver prices remained stable. The per tola rate for silver stood unchanged at Rs3,427, while the price for 10 grams of silver remained steady at Rs2,938.<\/p>\n

Market watchers suggest that gold prices may continue to show volatility in the short term due to global economic uncertainty and changing investor sentiment.<\/p>\n

Significant price swing<\/p>\n

Despite the recent decline, gold has witnessed a dramatic six-month rally characterized by sharp price swings and mounting geopolitical uncertainty, ultimately reaching record highs.<\/p>\n

According to Adnan Agar, Director of Interactive Commodities, gold opened around $2,750 in November, briefly dropped to $2,500, and then surged to an all-time high of approximately $3,500, a long-anticipated milestone.<\/p>\n

In Pakistan, bullion prices followed a similar trajectory, climbing from Rs295,000 to Rs350,000 per tola before easing slightly to around Rs346,000. The local gold market remains heavily influenced by international price movements.<\/p>\n

This nearly $1,000 fluctuation underscores both investor anxiety and strategic buying in response to global instability. A major catalyst has been gold’s reputation as a safe-haven asset, drawing increased demand during times of crisis.<\/p>\n

Rising tensions across multiple regions, including the Russia-Ukraine war, the Israel-Hamas conflict, and renewed hostilities involving the US and Iran, have pushed risk-averse investors toward gold. Notably, between January and April 2024, the metal posted especially strong gains, rising by an estimated $600 to $700.<\/p>\n

Political uncertainty in the United States, spurred by Donald Trump’s presidential resurgence and aggressive tariff rhetoric, further fueled market unease and bolstered gold\u2019s appeal.<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"

The downward trend in gold prices continued on Friday in both international and domestic markets, driven by technical corrections and profit-taking by investors. In the international bullion market, the price of gold fell by another $13 per ounce, bringing it down to $3,263. Analysts attribute the decline to ongoing market corrections and short-term profit booking […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[6],"tags":[],"class_list":["post-5900","post","type-post","status-publish","format-standard","hentry","category-english-news"],"_links":{"self":[{"href":"https:\/\/ipp-news.com\/index.php?rest_route=\/wp\/v2\/posts\/5900","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/ipp-news.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/ipp-news.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/ipp-news.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/ipp-news.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=5900"}],"version-history":[{"count":0,"href":"https:\/\/ipp-news.com\/index.php?rest_route=\/wp\/v2\/posts\/5900\/revisions"}],"wp:attachment":[{"href":"https:\/\/ipp-news.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=5900"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ipp-news.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=5900"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ipp-news.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=5900"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}