Gold and silver continued their sharp decline on Saturday in both international and domestic markets, reflecting a widespread downturn in bullion rates.
In the international market, gold fell by $255 per ounce, settling at $4,895. The drop was mirrored locally, with the price of gold per tola dropping by Rs25,500 to Rs511,862, while 10 grams of gold fell by Rs21,862 to Rs438,839.
Silver also moved lower, with per tola rates declining by Rs2,063 to Rs9,006, and 10 grams falling by Rs1,768 to Rs7,721.
The downturn follows a dramatic correction on Friday, when gold prices in Pakistan plunged by over Rs35,000 amid steep profit-taking. Investors rushed to secure gains as expectations for aggressive US interest rate cuts faded and the US dollar strengthened.
On Friday, gold per tola fell by Rs35,500 to Rs537,362, while 10 grams of gold dropped by Rs30,435 to Rs460,701, according to the All-Pakistan Gems and Jewellers Sarafa Association (APGJSA). Silver also faced heavy losses, declining by Rs1,106 to Rs11,069 per tola.
The sharp fall reversed gains from Thursday, when gold had surged to Rs572,862 per tola after a single-day increase of Rs21,200, marking one of the most volatile sessions in recent weeks.
The combined effect of international market corrections and domestic profit-taking has kept precious metals under pressure, highlighting the sensitivity of gold and silver prices to global economic indicators and investor sentiment.