- Price of 10 grams of gold falls RS2 829, reaching RS259 773.
- Rush Dollar triggered by the Trump Trump Trif Pause The Golden Chandelier.
- Local money prices remain stable in the middle of lukewarm requests.
Monitoring a global retirement, gold prices in Pakistan fell for the third consecutive day Thursday, the rate by tola (11.7 grams) falling from RS3300 to settle at RS303,000, according to All Pakistan Gems and Jewelers Sarafa Association (APGJSA).
Likewise, the price of 10 grams of precious metal decreased by RS2,829, reaching RS259 773.
The prices of money, on the other hand, remained unchanged at RS3,314 by Tola and RS2,841 for 10 grams.
The yellow metal on the local markets slipped RS2 400 by tola to RS306,300 Wednesday, while the prices of money dropped from Rs36 to Rs3,314 by tola.
International gold prices fell by more than 1% at their lowest level in more than a week on Thursday, while the US dollar missed, while investors were waiting for a key inflation inflation which could offer indices on the monetary policy of the federal reserve.
Spot Gold fell 1% to $ 2,889.13 per ounce of 1127 GMT, its lowest since February 17. The prices reached a record peak of $ 2,956.15 on Monday, driven by safe security flows. US Gold Futures lost almost 1% for $ 2,901.50.
The dollar index increased by 0.2% to go more from the recent lows of 11 weeks, making ingots at more expensive green prices for other currency holders.
US President Donald Trump has raised hopes for another one -month break on new steep prices on imports from Mexico and Canada, saying that they could take effect on April 2 and launched a 25% “reciprocal” rate on European cars and other goods.
This uncertainty “sent investors rushing towards the embrace of the dollar, imposing new pressure on gold, which already undergoing benefits of record peaks,” said Lukman Otunuga, main research analyst at FXTM.
No relaxation
Gold demand, including over-the-counter trade (OTC), increased by 1% to a record summit of 4,974.5 metric tonnes in 2024 as investment increased, said World Gold Council (WGC) earlier this month, adding that central banks have accelerated the purchase in the fourth quarter.
Central Banks, a large source of gold demand, bought more than 1,000 tonnes of metal for the third consecutive year in 2024.
In the last quarter of 2024, when Trump won the US elections, purchases by central banks accelerated by 54% over a year to 333 tonnes, the WGC calculated, on the basis of declared purchases and an estimate of non -declared purchasing.
Total gold demand, excluding the opaque OTC trading, increased by 1% to 4,553.7 tonnes last year, the highest since 2022, said WGC. He estimates that the request for a violence fell 7% due to a collapse in the last quarter of the year, because the profit taking compensates for the persistent demand from investors with high shuttle.
The consumption of gold jewelry, the largest category of physical demand, dropped by 11% in 2024, while the production of mines was stable and recycling increased by 15%.
The WGC expects the demand for jewelry to remain under pressure and that recycling increases more this year due to high prices.