After witnessing a brief surge for one day, gold and silver prices have recorded a sharp decline once again in both local and international markets, surprising buyers and investors alike.

According to the All Pakistan Sarafa Gems and Jewellers Association, gold prices have seen the largest drop in recent days. Official figures show that the price of 24-carat gold per tola fell by Rs 4,700, bringing it down to Rs 455,562. Similarly, the price of 10 grams of gold dropped by Rs 4,030 to Rs 390,570.

The sudden decline has caught the attention of both jewellery buyers and investors, with many seeing the drop as a short-term buying opportunity.

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Silver prices also continued their downward trend. Reports indicate that the price of silver per tola decreased by Rs 106, settling at Rs 7,756, which is among the lowest levels recorded in recent days.

Pressure was also observed in the global precious metals market. In the international gold market, the price of gold per ounce fell by $47, reaching $4,332.

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Economic experts say that fluctuations in global interest rates, the strength of the US dollar, and ongoing economic uncertainty are the main factors behind the volatility in gold prices. Market analysts believe that if the global downward trend continues, further reductions in local prices cannot be ruled out.

However, some experts argue that the upcoming wedding season and rising local demand could help stabilize prices in the coming days. For now, the drop in prices is being seen as temporary relief for consumers, while investors remain cautious and closely monitor market movements.