KARACHI:
Gold and silver prices declined in international and domestic markets after a seven-day gap on Thursday.
In the international bullion market, the price of gold per ounce fell by $7 to $5,178.
In the local market, the price of gold per tola decreased by Rs700 to Rs540,562, while the rate for 10 grams dropped by Rs600 to Rs463,444.
Silver prices also registered a decline. The price of silver per tola fell by Rs350 to Rs9,204, while the price of 10 grams decreased by Rs301 to Rs7,890.
Spot gold was up 0.4% at $5,190.01 per ounce, as of 0816 GMT. Bullion had hit a more-than-three-week high on Tuesday.
US gold futures for April delivery were down 0.4% at $5,206.80.
Gold prices scaled a record high of $5,594.82 on January 29 and were up 20% so far this year.
Spot silver fell 1.4% to $88.18 per ounce. Spot platinum added 0.9% to $2,308.11 per ounce, while palladium rose 0.3% to $1,800.14.
Read: Gold surges to Rs541,262/tola amid US-Iran tensions
Earlier on Wednesday, gold prices extended their upward trajectory, tracking gains in the international bullion market as investors flocked to safe-haven assets amid renewed tariff concerns and persistent geopolitical tensions between the United States and Iran.
According to the All-Pakistan Gems and Jewellers Sarafa Association, the price of 24-karat gold per tola rose by Rs1,300 to settle at Rs541,262 in the local market. Similarly, the price of 10 grams of gold increased by Rs1,114 to Rs464,044.
The latest increase follows Tuesday’s sharp rise, when gold per tola surged by Rs3,400 to close at Rs539,962, reflecting sustained demand in both domestic and global markets.
Silver prices also moved higher, with per-tola rates climbing by Rs268 to Rs9,554, mirroring the broader bullish trend.
In the international market, spot gold advanced 0.5% to $5,172.17 per ounce by 1437 GMT, while US gold futures for April delivery gained 0.3% to $5,191, according to Reuters’ data.
Separately, platinum prices touched their highest level since January 29 in international trading, signalling broader strength across the precious metals complex.
