The gold market witnessed a major correction on Thursday, reversing its upward trend both globally and in Pakistan.
The All Pakistan Sarafa Gems and Jewellers Association reported that the price of 24-karat gold per tola dropped by Rs4,100 to Rs384,000. Prices for 10 grams fell by Rs3,515, closing at Rs329,218.
Internationally, the precious metal also lost ground. Gold per ounce decreased by $36 to $3,618, reflecting global corrections after recent rallies. Analysts pointed to shifting investor strategies and expectations of economic adjustments worldwide.
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Silver followed gold’s path, with its rate falling by Rs32 per tola to Rs4,326. Dealers say the dip could encourage short-term buying but warn that volatility is likely to persist.
The latest correction highlights the fragile balance in global commodities. After touching record highs, gold prices are adjusting to market realities. For investors, the drop is seen as a reminder of gold’s dual role as both a safe haven and a volatile commodity.