After weeks of historic gains, gold prices have seen a sharp pullback, as investors moved to lock in profits. The correction in international markets has quickly spilled over into Pakistan, where gold recorded one of its largest single-day declines in history.
🌍 What Happened in the Global Gold Market?
According to market reports, gold prices dropped by as much as $355 per ounce in international trading. Following the decline, gold fell to around $5,150 per ounce, after previously trading near $5,505 per ounce.
Analysts say the drop was largely driven by profit-taking, as investors chose to cash out after the recent surge to record highs.
🇵🇰 Massive Impact on Gold Prices in Pakistan
The global downturn had an immediate and significant effect on local markets.
In Pakistan:
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Gold price per tola fell by Rs. 35,500
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New price settled at Rs. 537,362 per tola
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10 grams of gold dropped by Rs. 30,435, bringing the price to Rs. 460,701
Just a day earlier, gold had touched an all-time high of Rs. 572,862 per tola, making the decline particularly notable.
🪙 Silver Prices Also Slide
Silver was not spared by the correction. Local market data shows:
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Silver price per tola fell by Rs. 1,106
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New rate stands at Rs. 11,069 per tola
The decline mirrors the broader trend seen across precious metals following the sell-off in global markets.
📊 What Analysts Are Saying
Market experts describe the move as a technical correction rather than a trend reversal. While gold has seen extraordinary gains in recent months, short-term pullbacks are considered normal after such aggressive rallies.
Investors are now closely watching:
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Global economic signals
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Interest rate expectations
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Geopolitical developments
These factors will determine whether gold stabilizes or sees further volatility.
