Gold prices experienced a slight drop on Friday, following a recent surge to historic highs. In the international bullion market, gold fell by $3 per ounce and settled at $3,326. This decline led to a modest correction in Pakistan’s local market as well.
In Pakistan, the price of 24-carat gold decreased by Rs300 per tola, bringing it down to Rs349,700. Similarly, the price of 10 grams of 24-carat gold dropped by Rs257, now at Rs299,811. This drop comes after gold reached an all-time high of Rs350,000 per tola just a day earlier.
The All-Pakistan Gems and Jewellers Sarafa Association reported that gold had previously jumped by Rs2,000 per tola. On that day, gold closed at Rs350,000, marking a significant increase in prices.
Meanwhile, silver prices continued to rise. On Friday, silver gained Rs16 per tola, reaching Rs3,417. Analysts believe the mild dip in gold prices is part of a normal market correction. They caution that ongoing global economic uncertainty may keep prices volatile.