Gold prices slipped in Pakistan on Thursday, following a fall in the international market.
In the local market, the price of gold dropped by Rs700 per tola, bringing it down to Rs540,562. The rate for 10 grams also declined by Rs600 to Rs463,444. The figures were shared by the All Pakistan Gems and Jewellers Sarafa Association.
A day earlier, on Wednesday, gold had climbed by Rs1,300 per tola to settle at Rs541,262. The latest drop has erased part of that gain.
In the global market, gold prices saw mixed movement. The international rate was reported at $5,178 per ounce, down by $7, including a premium of $20. However, spot gold later edged up by 0.4 percent to $5,190.01 per ounce by 0816 GMT. Earlier this week, bullion touched a more than three week high.
US gold futures for April delivery were down 0.4 percent at $5,206.80 per ounce.
Analysts say gold remains sensitive to political and economic signals. Ongoing uncertainty around US tariff policy has supported demand for the precious metal, which is often seen as a safe place to park money during times of tension. A weaker US dollar has also made gold cheaper for buyers using other currencies.
Market attention is also focused on talks between US and Iranian officials in Geneva. US envoy Steve Witkoff and Jared Kushner are expected to meet an Iranian delegation for a third round of nuclear discussions. Earlier this week, President Donald Trump said he would not allow Iran to develop a nuclear weapon, renewing concerns about regional stability.
So far this year, gold has risen around 20 percent in global markets. It touched a record high of $5,594.82 per ounce on January 29.
Meanwhile, silver prices in Pakistan also moved lower. The price of silver fell by Rs350 per tola to reach Rs9,204.
Traders say prices may continue to shift in the coming days as investors react to global developments and fresh economic signals.
