Gold prices see slight decline after sharp rise

Gold prices took a modest step back today following a notable rise yesterday, giving investors a brief pause in otherwise unstable market conditions.

The All Pakistan Gems & Jewelers Association reported that the cost of one tola of gold fell by Rs1,000, closing at Rs418,862.

The cost of 10 grams of gold fell by Rs857, bringing it to Rs359,106

In global markets, gold saw a minor drop of $10, trading at $3,965 per ounce.

Experts attribute the small dip in gold prices to volatility in the international market.

Meanwhile, silver prices remained stable, with per tola silver at Rs5,034 and 10 grams at Rs4,315.

Analysts note that gold is facing global pressure due to a stronger US dollar and falling crude oil prices. Still, sustained local demand is likely to prevent any sharp decline in gold rates.