The sudden decline came after several days of continuous increase in both local and international markets.
According to the All Pakistan Gems and Jewellers Association, the price of 24-karat gold dropped by Rs4,578 per tola, bringing it down from Rs425,178 to Rs420,600 in domestic markets. Similarly, the price of 10 grams of 24-karat gold fell by Rs3,924, decreasing from Rs364,521 to Rs360,597.
In the international market, gold prices also recorded a major fall of $44 per ounce, reducing the global rate to $3,995 per ounce. Experts suggest this correction was expected after weeks of record-breaking highs driven by market speculation and dollar volatility.
However, silver prices showed an opposite trend. In local markets, the price of one tola silver increased by Rs34, reaching Rs5,100, while the price of 10 grams silver rose by Rs29.93 to Rs4,372. The international silver market also saw a surge, pushing the rate to $50.13 per ounce.
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After weeks of relentless rise, the gold market finally cooled down. Investors are now watching whether this dip marks a longer downward trend or just a short pause. Meanwhile, silver’s upward movement adds intrigue to the shifting precious metals market, reflecting how global uncertainty continues to shape local prices.
