Gold prices in Pakistan dropped slightly on Thursday after a sharp five-day rally that saw rates rise by a total of Rs13,900 per tola.
As per data from the All Pakistan Sarafa Gems and Jewellers Association, the price of 24-karat gold declined by Rs1,900 per tola, settling at Rs347,500. The rate for 10 grams also fell by Rs1,629, bringing the new price to Rs297,925.
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The international market followed a similar trend. The price of gold per ounce decreased by $19, now standing at $3,291 after several days of gains.
Silver prices in Pakistan also moved downward. A tola of 24-karat silver saw a drop of Rs38, now priced at Rs3,428. Meanwhile, 10 grams of silver are now available at Rs2,938.
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Analysts suggest the dip may be due to global market corrections following the recent surge, as investors reacted to changing economic signals and profit-taking.
Despite the drop, gold prices remain near record highs in both local and international markets, with market watchers continuing to monitor inflation trends and currency fluctuations for future movement.
