- Gold prices in India drop by ₹450 per 10g; silver down by ₹700/kg.
- International gold prices slip to $3,227 as US-China truce cools demand.
- Pakistani gold rates rise by Rs. 3,700 per tola amid local market volatility.
Gold prices witnessed a decline in India as investors opted for profit booking, leading to a drop of ₹450 per 10 grams. Silver also experienced a downturn, falling by ₹700 per kg.
In contrast, the gold market in Pakistan displayed a bullish trend with a notable Rs. 3,700 increase per tola, reaching Rs. 344,200. The rise in local gold prices is attributed to fluctuations in the global market and domestic demand dynamics.
US-China Truce Shakes Up Gold Markets as Safe-Haven Demand Weakens
The global gold market has come under pressure as the temporary tariff truce between the US and China reduces market volatility. With tariffs on low-value Chinese goods reduced to 30%, investors are shifting capital away from gold and towards riskier assets, causing gold prices to drop to $3,227 per ounce.
US inflation data has further contributed to gold’s decline, with the April CPI rising only 0.2%, lower than the anticipated 0.3%. This has fueled speculation about potential interest rate cuts by the Federal Reserve, which could either stabilize or further weaken gold prices.
India’s gold market mirrored the global trend, with a ₹450 per 10g decline due to profit booking. Investors are capitalizing on previous gains as they await more clarity from upcoming US economic data, particularly the Producer Price Index (PPI), which could indicate the Fed’s next move.
On the other hand, Pakistan’s gold market saw an upward trend, with prices increasing by Rs. 3,700 per tola. This surge reflects local market dynamics driven by currency fluctuations and rising demand for safe-haven assets amid ongoing economic uncertainties.
Gold prices are navigating a period of volatility driven by global trade negotiations, economic data, and shifting investor sentiment, with regional markets reacting distinctly.
“Gold is a barometer of global uncertainty — when peace prevails, its shine dims, but when turmoil strikes, it gleams brighter.”
