Gold prices in Pakistan recorded a modest decline on Thursday, offering slight relief to buyers after witnessing an unprecedented surge earlier this week that shook the local bullion market.
According to market rates, the price of gold per tola dropped by Rs800, bringing it down to Rs505,562. The decline follows a historic jump a day earlier when prices surged by more than Rs12,000 per tola, setting a new all-time high and sparking concern among traders and consumers.
The downward movement was also reflected in the 10-gram gold rate, which fell by Rs680 to settle at Rs433,437. Despite the drop, prices remain significantly elevated compared to last week, keeping overall market sentiment cautious and volatile.
Market experts say the minor correction is largely technical in nature, as prices had risen sharply in a short period. Traders noted that many investors opted to book profits after Wednesday’s rally, contributing to the slight pullback in domestic prices.
In the international market, gold prices also edged lower, slipping by $8 to trade at $4,832 per ounce, including a $20 premium. Global price movements continue to play a key role in determining local gold rates, along with exchange rate fluctuations and investor demand.
Silver prices in Pakistan mirrored the trend seen in gold. The per-tola rate of silver declined by Rs30, settling at Rs9,903. Although silver’s movement was less dramatic, it remains part of the broader volatility affecting precious metals this week.
Despite the day’s decline, analysts caution that gold prices remain highly sensitive to global economic uncertainty, inflation concerns, and investor sentiment. With prices still hovering near record levels, buyers are expected to remain cautious, while traders anticipate continued fluctuations in the coming days.
Also read: Gold Prices In Pakistan Today
