Gold Prices Fall Sharply After Record Highs in Pakistan
Gold prices in Pakistan saw a steep drop on Thursday, just a day after hitting record highs.
According to the All Pakistan Sarafa Gems and Jewellers Association, the price of 24-karat gold per tola fell by Rs4,100, settling at Rs384,000.
The price of 10 grams also dropped by Rs3,515 to Rs329,218. The decline followed a similar trend in the international market, where gold per ounce slipped by $36 to $3,618.
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The sudden fall comes as global demand fluctuates amid a stronger dollar and cautious investor sentiment. Analysts suggest that profit-taking by investors after record levels played a role in the correction.
Silver rates in Pakistan mirrored the trend, with 24-karat silver per tola decreasing by Rs32 to Rs4,326. Traders said the downward shift could provide some relief to jewellery buyers, though uncertainty remains in global markets.
