In a surprising turn of events, gold prices in Pakistan took a sharp dive on Friday, snapping a record-breaking streak that had investors buzzing just a day prior. The All-Pakistan Gems and Jewellers Sarafa Association (APGJSA) reported a Rs2,000 drop per tola, with the shiny metal now priced at Rs318,800. For those eyeing smaller quantities, the 10-gram rate slid by Rs1,712 to Rs273,319.
The sudden decline mirrors a global cooldown, where international gold rates dipped to $3,031 per ounce (with a $20 premium), shedding $19 in a single day. Analysts point to shifting investor sentiment and profit-taking after Thursday’s peak, when gold soared to an unprecedented Rs320,800 per tola in Pakistan.
Silver didn’t escape the downturn either, with prices falling Rs49 to Rs3,475 per tola, adding another layer of intrigue to the precious metals market. As traders recalibrate, all eyes are on whether this dip signals a broader correction or a fleeting pause in gold’s glittering rally.
