Gold Prices Dip in Pakistan After Hitting Record High

Gold prices in Pakistan have retreated after reaching a historic peak earlier this week. According to the All-Pakistan Gems and Jewellers Sarafa Association (APGJSA), the per tola gold price fell by Rs. 2,500, settling at Rs. 407,778 on Thursday.

Likewise, the rate of 10-gram gold dropped by Rs. 2,144, now standing at Rs. 349,603.

Earlier on Wednesday, gold had surged—its tola rate touching Rs. 410,278, after a jump of Rs. 3,500 in just one day.

On the international front, gold prices also eased, with the global rate recorded at US $3,865 per ounce (including a $20 premium), reflecting a decrease of $25.

Interestingly, while gold cooled, silver prices in the local market inched upward. The price per tola of silver rose by Rs. 13 to Rs. 4,839.

The dip indicates a short-term correction following the rapid run-up earlier in the week, influenced by global trends and local demand. Analysts suggest investors should watch both international markets and domestic demand dynamics closely.