Gold prices dip in Pakistan after Rs13,900 surge over five days

Gold prices in Pakistan saw a decline on Thursday, following a consistent rise over the past five days that totaled Rs13,900.

According to the All Pakistan Sarafa Gems and Jewellers Association, the price of 24-karat gold per tola fell by Rs1,900, settling at Rs347,500. Likewise, the rate for 10 grams of 24-karat gold decreased by Rs1,629 to Rs297,925.

On the international front, the price of gold also registered a drop, falling by $19 per ounce to reach $3,291.

Silver prices in the local market followed a similar trend. The price of a tola of 24-karat silver decreased by Rs38, reaching Rs3,428, while 10 grams of silver were priced at Rs2,938.

The decline in precious metal prices comes after a sharp upward trend in recent days, which analysts attribute to global market fluctuations and changing investor sentiment.