KARACHI: Gold prices in Pakistan experienced a decline today, February 3, 2025, following a similar trend in international markets. The decrease comes as global investors await key economic data releases 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. Gold Prices in Pakistan Weaken on February 3, 2025, Tracking Global Dip
Silver prices mirrored the downward trend, with one tola falling by Rs 25 to Rs 3,355 and 10 grams decreasing by Rs 22 to Rs 2,878.
The global gold market has softened due to a slightly stronger US dollar. Investors are closely watching upcoming economic data 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 having fallen 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 Safe-Haven Appeal
Gold’s enduring value stems from its scarcity, aesthetic appeal, and long history as a store of value. 1 It is often considered a safe-haven asset, attracting investors during periods of economic uncertainty and geopolitical risk. 2 Central banks and investors hold gold reserves as a hedge against inflation and currency volatility. 3 Demand for gold jewelry, particularly in Asia, also plays a significant role in the metal’s sustained value.
