Gold and silver prices fluctuate across India, Pakistan, and Dubai

Precious metal markets in India, Pakistan, and Dubai are experiencing significant fluctuations in gold and silver prices. In India, gold prices have seen recent corrections and volatility, with 24-karat gold trading around ₹1,51,000 to ₹1,53,000 per 10 grams in major cities like Delhi and Mumbai. Silver has also faced downward pressure, dropping significantly in some regions.

In Pakistan, gold rates remained relatively stable at approximately Rs450,936 per tola, while silver prices saw a slight decline. Meanwhile, retail buyers in Dubai reported slight relief as gold prices moved downward compared to previous weekly averages.

Economic factors are heavily influencing these trends. Kotak Institutional Equities has flagged downside risks to India’s gold import forecasts following a duty hike in May, which raised domestic prices relative to global markets. Analysts suggest that while festive season demand may drive a recovery, the market remains sensitive to international bullion prices, US dollar strength, and central bank policies. Some traders have even made bold long-term predictions, suggesting gold could see massive rallies if current corrections conclude.