Gold prices in Pakistan fell on Thursday, mirroring losses in the international market. The All-Pakistan Gems and Jewellers Sarafa Association reported a decrease of Rs9,500 per tola, with 10-gram gold dropping by Rs8,415. Internationally, gold dipped $95 to $4,723 per ounce.
Silver prices also dropped in Pakistan, falling by Rs300 to Rs7,884 per tola. A day earlier, gold had surged by Rs15,700, reaching Rs504,162 per tola and silver rose by Rs440 to Rs8,184 per tola. The international market saw a 1.2% increase in gold prices to $4,756.37 per ounce.
This rally was driven by a weaker US dollar and oil prices following geopolitical tension easing. A two-week ceasefire between the U.S. and Iran, brokered with Pakistan’s help, contributed to lower inflationary concerns and improved expectations for interest rate cuts.