After rising for seven consecutive sessions, gold prices in Pakistan dropped on Thursday, following a decline in international rates. In the local market, the price of gold per tola decreased by Rs2,300, bringing it down to Rs283,100.
Similarly, the price for 10-gram gold fell by Rs1,971, now standing at Rs242,713, as per the rates shared by the All-Pakistan Gems and Jewellers Sarafa Association (APGJSA).
On Wednesday, gold had hit a record high of Rs285,400 after a Rs2,000 increase.
Internationally, gold prices also fell on Thursday. According to APGJSA, the global rate was $2,734 per ounce (including a $20 premium), showing a decline of $23 for the day.
Meanwhile, silver prices remained steady at Rs3,350 per tola.
In recent weeks, gold prices have surged to record levels as conflicts in the Middle East and uncertainties surrounding the upcoming US election have driven demand for safe-haven assets like bullion, which is often viewed as a hedge against economic and geopolitical instability.
