Gold prices in Pakistan slip after days of surge

KARACHI (Dunya News) - Gold prices in Pakistan declined on Thursday after rising for seven consecutive days.

According to the latest rates issued by the All Pakistan Sarafa Gems and Jewellers Association, the price of 24-karat gold per tola dropped by Rs700 to Rs540,562. Likewise, the rate for 10 grams of 24-karat gold decreased by Rs600, settling at Rs463,444.

The decline in domestic prices followed a minor adjustment in the global bullion market.

Internationally, gold prices fell by $7 per ounce to $5,178, contributing to the downward revision in Pakistan’s local market. Silver prices also mirrored the trend, ending their week-long surge.

The price of silver per tola decreased by Rs350 to Rs9,204, while silver per 10 grams dropped by Rs301 to Rs7,890. In the global market, silver declined by $3.5 per ounce to $87.20.

Market observers view the decline as a short-term correction after sustained gains in recent sessions.