{
  "$type": "site.standard.document",
  "bskyPostRef": {
    "cid": "bafyreib2p336wl6qnsoo63wryc6jynfs2kg6amkzjwuieaxoyzfibzgnoi",
    "uri": "at://did:plc:jpckpkvpjawehyqenhblotzo/app.bsky.feed.post/3mplcgowxh6g2"
  },
  "coverImage": {
    "$type": "blob",
    "ref": {
      "$link": "bafkreibnvkc24giisrnad22qnhzeaynxw7vj53alvztwtatbcegdd3mexi"
    },
    "mimeType": "image/jpeg",
    "size": 53652
  },
  "path": "/latest/gold-prices-tumble-in-pakistan-as-global-bullion-slump-deepens/",
  "publishedAt": "2026-07-01T09:56:04.000Z",
  "site": "https://humenglish.com",
  "tags": [
    "Business",
    "Latest",
    "Pakistan",
    "Gold prices tumble in Pakistan as global bullion slump deepens",
    "HUM News English"
  ],
  "textContent": "KARACHI: Gold prices in Pakistan fell sharply on Wednesday, plunging by Rs4,100 per tola to extend losses from the previous session, as the local bullion market tracked a steep international downturn driven by a robust US dollar and surging Treasury yields.\n\nThe price of 24-karat gold in the domestic market settled at Rs424,836 ($1,525.43) per tola, according to the All Pakistan Gems and Jewelers’ Association (APGJA).\n\nThe price for 10 grams of the precious metal decreased by Rs3,515 to trade at Rs364,228.\n\nDefying the downward trend in the gold market, silver posted modest gains.\n\nIn the local market, the price of silver rose by Rs25 to reach Rs6,349 per tola, while the price for 10 grams of silver increased by Rs22 to hit Rs5,443.\n\nThis mirrored an uptick in the international market, where spot silver edged up by 25 cents to trade at $58.70 per ounce.\n\nLocal dealers noted that the back-to-back contractions in gold prices were a direct response to a bearish international trend.\n\nOn Tuesday, the price of 24-karat gold in the domestic market plunged by Rs4,100 per tola to settle at Rs424,836 ($1,525.43).\n\nOn Monday, local tola prices had already shed Rs2,300 after international spot gold dipped to $4,065 per ounce.\n\nWhile gold traditionally serves as a critical safe-haven asset and inflation hedge in Pakistan, local jewelry prices remain tightly tethered to global benchmarks and currency fluctuations.\n\nIn the international market, spot gold fell 0.7% to $3,979.41 per ounce, having touched a multi-month low of $3,942.99 per ounce in the previous session — its lowest level since last November. US gold futures also settled lower at $3,992.70.\n\nMarket analysts attributed the global commodity rout to macroeconomic headwinds that have increased the opportunity cost of holding non-yielding bullion.\n\n\"The primary drivers behind the downward pressure on gold are the strengthening US dollar and rising Treasury yields,\" said Ilya Spivak, a prominent market analyst.\n\nThe pressure on precious metals has intensified following hawkish signals from US Federal Reserve officials.\n\nCleveland Fed President Beth Hammack indicated that interest rates could be hiked further if inflation fails to cool down sustainably.\n\nFinancial markets are currently pricing in an estimated 67 per cent probability of a Fed rate hike in September, with investors pivoting their attention to upcoming US employment data for clearer directional cues.\n\nOther international precious metals largely tracked gold's downward trajectory during the broader trading sessions.\n\nSpot silver was down 1.4 per cent at $57.75 per ounce earlier in the global cycle, while platinum eased 0.6 per cent to $1,542, and palladium slid 0.4 per cent to trade at $1,199.34.\n\nThe post Gold prices tumble in Pakistan as global bullion slump deepens appeared first on HUM News English.",
  "title": "Gold prices tumble in Pakistan as global bullion slump deepens"
}