Overview
- Prices extended a two-day decline, with international gold down $10 to $4,445 per ounce and Pakistan at Rs467,262 per tola and Rs400,601 per 10 grams, according to market data and the All-Pakistan Gems and Jewellers Sarafa Association.
- Even as published quotes fell, intraday trading showed a rebound, with spot gold up about 2% to $4,466 and US April futures up 1.9% to $4,461.
- Silver also eased, with the global price near $69.70 an ounce and local quotes at Rs7,454 per tola and Rs6,390 per 10 grams.
- Local markets have whipsawed this week, including a Rs11,000 single-day drop on Thursday and earlier swings that ran into the tens of thousands of rupees.
- Analysts pointed to cooling inflation views after a drop in oil prices and ongoing Middle East tension as drivers of the sharp moves, keeping jewellers and buyers focused on daily rate changes.