Gold and silver prices fluctuate across South Asian markets

Gold and silver prices are experiencing significant volatility across South Asian markets, driven by international bullion trends, a strengthening US dollar, and geopolitical tensions.

In India, gold prices have seen recent fluctuations, with some reports noting a decline in 24-karat gold to approximately ₹1.51 lakh per 10 grams, while other local markets reported slight upticks during festive periods. Silver prices have also fluctuated, with rates in major cities like Delhi and Mumbai ranging between ₹2.34 lakh and ₹2.45 lakh per kilogram.

In Pakistan, the market has faced a downward trend, with 24-karat gold prices dropping significantly in recent sessions. The All Pakistan Gems and Jewellers Sarafa Association reported rates around Rs 448,336 to Rs 453,936 per tola depending on the specific day of the trend.

Market analysts attribute these movements to several global factors, including US Federal Reserve monetary policy, fluctuations in the US Dollar Index, and tensions in the Middle East. The strengthening dollar and expectations regarding interest rate changes continue to exert pressure on precious metals.