Gold prices in Pakistan slipped on Thursday, reversing part of the sharp increase recorded in the local market a day earlier.
The price of gold fell by Rs3,800 per tola, bringing the latest rate to Rs453,436. The decline followed a drop in international gold prices during the day.
Gold Price Falls in Pakistan
According to the latest market rates, 10-gram gold also became cheaper on Thursday. Its price declined by Rs3,257 to reach Rs388,749.
The latest rates showed a clear shift after gold recorded a strong increase on Wednesday. The price of one tola had climbed by Rs7,900 during the previous session.
As a result, the gold price had reached Rs457,236 per tola on Wednesday before Thursday’s decline.
International Gold Prices Also Slide
The movement in Pakistan’s gold market came alongside a decline in international prices.
International gold fell by $38 per ounce, bringing the rate down to $4,309 per ounce.
The drop in the global market therefore coincided with the decline recorded in domestic gold prices on Thursday.
Silver Price Also Declines
Meanwhile, silver prices also moved lower in the local market.
The price of silver declined by Rs73 per tola, bringing its latest rate to Rs6,869 per tola.
Therefore, both gold and silver recorded declines during Thursday’s trading session.
The latest movement gives local buyers a slightly lower gold price after Wednesday’s sharp increase. However, gold remains priced above Rs450,000 per tola in the latest market rates.
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