Why Did Gold Prices in Pakistan Suddenly Stabilize After Last Week’s Sharp Drop?
Gold prices in Pakistan remained unchanged on Monday, creating interest among investors who observed a sharp fall only days earlier. The local bullion market reported no movement in the per tola rate, which stayed at Rs. 430,662. This stability came after a notable decline last week, and many traders are now watching the market for further direction.
According to local market data, the price of 10 grams of gold also held steady at Rs. 369,223. This lack of movement surprised some buyers because markets often experience continued adjustments after a major fall. However, the current pause indicates a possible balancing phase. Although the market stayed calm, investors continued to evaluate global trends for clues.Last week, gold prices fell by Rs. 9,100 per tola. That drop brought the rate down to Rs. 430,662 by Saturday. Therefore, the sudden stability following such a large slide raised new questions among traders. Many expected the market to show ongoing volatility. Instead, the rate paused and created a moment of uncertainty.
Meanwhile, the international market also reflected similar stability. The global price of gold remained at $4,083 per ounce. This figure included a $20 premium. Because global prices did not shift, the local market followed the same pattern. As a result, Pakistani traders saw little reason to adjust prices at the start of the week.
Although gold stayed flat, silver moved upward. Silver prices increased by Rs. 55 and reached Rs. 5,368. This slight rise offered a contrast to the stable gold market. Thus, some investors turned their attention to silver for short-term opportunities.