KARACHI: Gold prices in Pakistan experienced a decline today, February 1, 2025, mirroring a similar trend observed in international markets. The decrease comes as global investors await key economic data and central bank announcements.
According to the All Sindh Sarafa Jewellers Association, the price of one tola of gold decreased by Rs 450, settling at Rs 288,600. The price of 10 grams of gold also saw a reduction of Rs 386, reaching Rs 247,467.
Silver prices also reflected the downward trend. One tola of silver decreased by Rs 25 to Rs 3,355, while 10 grams of silver fell by Rs 22 to Rs 2,878.
The global gold market has softened due to a slightly stronger US dollar. Investors are closely monitoring upcoming economic data releases and policy statements from major central banks, particularly the Federal Reserve, for insights into future interest rate movements.
As of 11:00 AM GMT, spot gold was trading at $2,760.50 per ounce, down 0.3% after falling as much as 0.8% earlier in the session. US gold futures also declined, dropping 0.4% to $2,764.80 per ounce.
Gold’s Enduring Role
Gold’s enduring appeal lies in its scarcity, beauty, and historical significance as a symbol of wealth. It is often considered a safe-haven asset, attracting investors during periods of economic uncertainty and geopolitical instability. Central banks and investors hold gold reserves as a hedge against inflation and currency fluctuations. The demand for gold jewelry, particularly in Asia, also contributes significantly to the metal’s enduring value and its impact on various sectors of the economy.
