Gold prices in Pakistan eased on Thursday after touching record highs earlier this week. The decline brought some relief to buyers following days of strong gains. The New Gold Price reflects a noticeable correction in the local bullion market.
According to data shared by the All Pakistan Gems and Jewellers Sarafa Association, gold per tola dropped by Rs3,700. The updated rate settled at Rs482,462 per tola. This decline followed a sharp rise that pushed prices to historic levels.
The price of 10 grams of gold also fell during the session. It declined by Rs3,172 to reach Rs413,633. Market experts said the adjustment was expected after the recent surge. The New Gold Price still remains high compared to previous weeks.
Traders noted that local prices often follow global market movements. On the international front, gold also showed a bearish trend. The per ounce rate slipped by $37 to settle at $4,601. This price includes a premium of $20, which continues to influence domestic rates.
Jewellers explained that the drop came as investors booked profits. Global uncertainty had earlier driven prices higher. However, easing pressure in international markets led to a pullback. The New Gold Price reflects these global changes.
Updated rates for different gold categories were also released. The price of 22-karat gold per tola stood at Rs437,891. Meanwhile, 21-karat gold was priced at Rs417,987 per tola. The rate for 18-karat gold settled at Rs358,275 per tola.
On a per gram basis, 22-karat gold was recorded at Rs37,543. The 21-karat rate stood at Rs35,836 per gram. The price of 18-karat gold was noted at Rs30,717 per gram.
Silver prices also followed the downward trend. The rate of silver per tola dropped by Rs150. It settled at Rs9,425 in the local market. Dealers said silver often moves alongside gold due to similar investment patterns.
Market analysts believe price volatility may continue. Global economic signals and currency movements remain key factors. Buyers are advised to track trends closely before making purchases.
Despite the recent decline, gold remains a preferred investment. Many investors still see it as a safe store of value during uncertain times.
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