Safe haven settles at Rs459,462/tola, silver also slips; rupee shows slight uptick
Gold prices in Pakistan declined sharply on Tuesday, tracking losses in the international bullion market amid profit-taking following a strong year-end rally.
In the local market, the price of gold per tola dropped by Rs10,700 to settle at Rs459,462, according to rates released by the All-Pakistan Gems and Jewellers Sarafa Association (APGJSA). Similarly, the price of 10-gram gold fell by Rs9,174 to Rs393,914. Silver prices also came under pressure in the local market, with the price per tola falling by Rs145 to Rs7,930. Despite the day’s correction, silver has remained one of the strongest-performing assets this year, reflecting exceptional gains in international markets.
Internationally, precious metals rebounded late Tuesday after suffering sharp losses in the previous session, as investors refocused on geopolitical tensions and broader economic risks. According to Reuters, spot gold rose 0.9% to $4,369.59 per ounce by late afternoon, after recording its biggest single-day percentage decline since October 21 on Monday. The metal had touched a record high of $4,549.71 last week before retreating on profit-taking.
Silver, meanwhile, hit an all-time high of $83.62 per ounce on Monday, marking a surge of around 161% during 2025, before easing back. Platinum and palladium also showed signs of recovery after suffering record declines earlier.
Market participants are closely watching the release of the US Federal Reserve’s December meeting minutes, due at 1900 GMT, for clues on the future path of interest rates, which could influence precious metals prices.
Adnan Agar, Director at Interactive Commodities, said the market appeared relatively stable after recent turbulence.
Agar added that while prices have bounced back modestly, some pressure remains unless gold and silver move decisively towards their recent highs. He also pointed out that international markets are likely to remain subdued in the coming days due to the New Year holiday. “Volatility may persist until around January 10 to 15. After that, markets are expected to cool down. The one-way rally seen in December is unlikely to continue; instead, prices may move both up and down, but with greater stability,” he said.
Meanwhile, the rupee edged up slightly against the US dollar in the inter-bank market on Monday, closing at 280.16, continuing its modest weekly gain from 280.25 to 280.17, according to the State Bank of Pakistan (SBP).
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