KARACHI – Pakistan’s precious metals market witnessed a sharp correction on Friday as Gold prices fell heavily after recent international surges. The sudden decline followed extreme volatility seen earlier this week.
According to market data, the price of Gold dropped by Rs21,400 per tola. The new rate now stands at Rs507,762 per tola. This marks one of the steepest single-day declines in recent weeks.
The price of 10 grams of Gold also recorded a major fall. It declined by Rs18,347 and settled at Rs435,324. The figures were released by the All Pakistan Gems and Jewellers Sarafa Association (APGJSA).
The correction comes just two days after a strong rally. On Wednesday, gold prices surged by Rs14,800 per tola. That rally pushed prices to a record Rs529,162 per tola, reflecting sharp swings in the market.
International trends played a key role in the local decline. In the global market, gold prices dropped by $214 per ounce. The international rate fell to $4,850 per ounce, including a $20 premium. This drop added pressure on domestic prices.
Market analysts say such fluctuations reflect investor uncertainty. Shifts in global demand, currency movements, and profit-taking contributed to the decline. Traders noted that recent rapid gains made prices vulnerable to a correction.
Silver prices also followed the downward trend. The price of silver fell by Rs1,430 per tola. It is now trading at Rs7,825 per tola in local markets. The drop reflects broader weakness across precious metals.
Jewellers reported cautious buying activity during the session. Many buyers stayed on the sidelines, waiting for stability. Sellers, meanwhile, adjusted rates quickly to match global movements.
Experts advise consumers to monitor market trends closely. Short-term volatility is expected to continue due to changing global conditions. Investors are urged to make informed decisions rather than reacting to daily price swings.
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Despite the sharp fall, demand for Gold remains strong in the long term. Analysts believe prices may stabilize once international markets settle. For now, uncertainty continues to shape the precious metals market in Pakistan.
