📉 Current Price Trend (Major Sell-Off Continuing)
Global (Spot) Prices:
• Gold: around $4,676 per ounce, down sharply from last week’s highs. 
• Silver: about $78.9 – $79.3 per ounce, also down significantly.
📊 What’s Driving Prices
🔻 Recent Decline
• Precious metals have fallen sharply over the past few days after record highs — gold lost nearly $900 from its peak, silver plunged roughly 30-40% from its recent record. 
• Higher margin requirements on futures and a strong US dollar have accelerated the sell-off. 
• Investor profit-taking and reduced fear sentiment following easing macro concerns contributed to the downturn. 
📈 Long-Term Outlook (Analyst Views)
• Despite the short-term correction, some major banks (e.g., JP Morgan) maintain a bullish long-term outlook for gold, potentially targeting much higher levels (e.g., ~$6,300/oz by year-end). 
• Silver’s outlook is more cautious but still supported at a higher average floor compared to prior estimates due to recent performance. 
📉 Volatility & Market Activity
• Futures trading activity has decreased, with lower open interest suggesting traders de-risking positions. 
• ETFs tied to gold & silver have shown some rebound after steep losses, indicating stability returning in some segments
🧠 What This Means for Investors
• Short-term volatility: Prices are currently correcting sharply and may remain choppy.
• Long-term narrative: Safe-haven demand, central bank buying, and structural trends still support higher prices over months/years.
• Local markets (Pakistan) mirror international trends closely — price drops here reflect global sell-offs.
