KARACHI: The Gold Price in Pakistan fell on Thursday after touching record highs earlier this week. The decline came after two straight days of increases both locally and globally.
According to market data, the rate of 24-karat gold per tola dropped by Rs2,500, bringing the new price to Rs407,778. Similarly, the price of 10 grams of 24K gold decreased by Rs2,144 and settled at Rs349,603.
For 22-karat gold, the rate of 10 grams was recorded at Rs320,481 after losing Rs1,965. Market analysts said the drop followed international corrections after investors booked profits at higher levels.
On the global front, the Gold Price also fell. International rates dropped by $25, reaching $3,865 per ounce. The fall comes despite continued economic uncertainty, which has kept demand for safe-haven assets relatively strong.
In contrast, silver showed an upward trend in both domestic and international markets. In Pakistan, the rate of 24K silver per tola rose by Rs13 to Rs4,839. Meanwhile, the price of 10 grams of silver increased by Rs11, reaching Rs4,148.
Globally, silver gained $0.13 and was recorded at $47.40 per ounce. Traders said silver benefited from renewed industrial demand, which has added upward pressure on prices.
Experts believe the Gold Price could remain volatile in the coming days. Factors such as global inflation, currency movements, and geopolitical risks are likely to influence the market. While the recent drop eased prices, analysts said demand in Pakistan is expected to remain strong, especially ahead of the wedding season.
The latest change shows that while gold remains a safe investment, its value can shift quickly with global trends.
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