Gold prices in Pakistan fell on Wednesday (November 12), continuing a mixed trend in the local market. The rate of 24-karat gold in local market dropped by Rs1,000, closing at Rs434,762 per tola.

Similarly, 24-karat gold per 10 grams was sold at Rs372,738, down Rs857 from the previous day. The price of 22-karat gold also declined, reaching Rs341,688 per 10 grams, according to the All-Pakistan Gems and Jewelers Sarafa Association.

While gold lost some value, silver moved in the opposite direction. Domestic rates for 24-karat silver rose by Rs81 to Rs5,434 per tola, and Rs69 to Rs4,658 per 10 grams, reflecting stronger demand for the metal.

International cues weigh on gold

Global gold prices eased on Wednesday, retreating slightly after a recent surge that took the precious metal to a near three-week high. Spot gold was down 0.2 percent at $4,116.65 per ounce, following a rebound in the US dollar and profit-taking by investors.

Market analysts say the pullback is part of a natural correction after gold’s recent rally, which had been driven by expectations of further interest rate cuts by the Federal Reserve.

Tim Waterer, Chief Market Analyst at KCM Trade, noted that both gold and silver had benefited from a weaker dollar earlier in the week, and “normal service has resumed,” with gold trading comfortably above $4,100 while monitoring potential gains should US economic data support additional policy easing. Investors in Pakistan are likely to watch both local and international trends closely in the coming days, as the market remains sensitive to shifts in global interest rates and currency movements.