After a significant increase in global and local gold markets a day earlier, gold prices witnessed a decline today, bringing rates down from their recent peak levels.
According to the All Pakistan Gems and Jewellers Association, gold became cheaper in domestic bullion markets on Thursday, the fourth trading day of the week, resulting in a slight correction in both local and international gold prices.
The report stated that the price of one tola of 24-carat gold in Pakistan decreased by Rs800, bringing the new price to Rs505,562 per tola.
Similarly, the price of 10 grams of gold fell by Rs 686 and is now recorded at Rs 433,437.
Silver prices also showed a downward trend, with per tola silver declining by Rs30 to reach Rs9,904, while the price of 10 grams of silver dropped by Rs26 to settle at Rs8,489.
Meanwhile, in the international market, the price of gold decreased by $8 to stand at $4,832 per ounce.
It is worth noting that in the previous trading session, gold prices in Pakistan had surged by Rs12,700 per tola, while gold in the global market had risen by $127 per ounce. On the same day, silver prices had increased by Rs64 per tola to Rs9,933, while 10 grams of silver had closed at Rs8,515 after a rise of Rs54.
