Gold prices in Pakistan witnessed a major decline on Thursday after recently touching record levels, with international markets also showing a downward trend. The fall came as global gold rates dropped by $25 per ounce, pulling domestic rates lower as well. This adjustment brought relief for buyers after consecutive days of surging prices that had pushed gold to an all-time high earlier in the week.
According to the All Pakistan Gems and Jewellers Association, the price of 24-karat gold fell by Rs2,500 per tola, bringing it down to Rs407,778 from the previous Rs410,278. Similarly, the price for 10 grams of 24-karat gold declined by Rs2,144, settling at Rs349,603 compared to yesterday’s Rs351,747. This sharp reduction highlighted the immediate impact of global market movements on local trading.
Read more : Gold prices stay steady in domestic market
In addition, the price of 22-karat gold also experienced a noticeable drop. Rates for 10 grams fell by Rs1,965, reaching Rs320,481 compared to the previous Rs322,446. These back-to-back declines signal that demand pressures and global market fluctuations are reshaping the precious metal’s value, both internationally and domestically.
On the international stage, gold prices recorded a dip as well. After losing $25 in value, gold per ounce dropped to $3,865, down from $3,890 earlier. This decline aligned with global economic factors, including investor confidence, currency movements, and broader financial adjustments influencing the precious metals market worldwide.
Meanwhile, silver prices moved in the opposite direction with a slight upward trend. The rate for 24-karat silver increased by Rs13 per tola, reaching Rs4,839, while 10 grams rose by Rs11, bringing the price to Rs4,148. Internationally, silver prices saw a minor increase of $0.13, climbing to $47.40 per ounce, reflecting steady demand in the global market.
Read more : Gold prices decrease by Rs 1,100
Overall, the fall in gold prices after record-breaking highs marks a significant shift for both domestic and international investors. While gold faced a steep decline, silver’s modest rise suggested a mixed trend in precious metals, with market dynamics continuing to remain volatile and closely tied to global developments.