Gold prices dip slightly after record high in Pakistan
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Gold prices witnessed a minor decline on Friday in both international and local markets, following a sharp rally that had pushed rates to historic highs a day earlier.
In the international bullion market, the price of gold slipped by $3 per ounce, settling at $3,326. The dip triggered a modest correction in Pakistan's local market, where the price of 24-carat gold fell by Rs300 per tola, bringing it down to Rs349,700.
The price of 10 grams of 24-carat gold also dropped by Rs257, reaching Rs299,811.
The decline follows Thursday's dramatic surge, when gold prices in Pakistan reached an all-time high of Rs350,000 per tola, breaching the milestone for the first time.
According to data from the All-Pakistan Gems and Jewellers Sarafa Association (APGJSA), gold had jumped by Rs2,000 per tola and Rs1,715 per 10 grams, closing at Rs300,068.
In contrast to gold, silver prices continued to rise. On Friday, silver gained Rs16 per tola, reaching Rs3,417, while 10 grams rose by Rs14 to Rs2,929.
Analysts say the slight dip in gold prices is a natural market correction after record-breaking gains. However, they warn that volatility may persist amid ongoing global economic uncertainty, geopolitical tensions, and strong investor interest in safe-haven assets.
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