Gold prices moved into reverse on Thursday after reaching record highs earlier this week, as profit-taking emerged in global markets and eased the sharp upward momentum seen over recent trading sessions.
In the international bullion market, gold prices fell by $37 per ounce, settling around $4,601, marking a notable pullback after several days of strong gains driven by investor demand.
Read more : Pakistan gold prices climb again, breaking records
This global decline quickly spilled into local markets, where the price of 24-karat gold per tola in Pakistan dropped by Rs3,700, bringing the new rate to Rs482,462.
Similarly, the price of 10 grams of 24-karat gold declined by Rs3,172, settling at Rs413,633, providing slight relief to buyers after weeks of continuous price increases.
Silver prices also followed the downward trend, with per tola rates falling by Rs150 to Rs9,425, while 10 grams of silver dropped by Rs129 to Rs8,080.
Read more : Gold prices increase by Rs 4,300 per tola
Market observers say the correction reflects short-term adjustments after historic highs, although overall sentiment remains cautious as global economic uncertainty continues to influence precious metal prices.