Gold prices fall after seven consecutive days of gains

Gold rates in Pakistan fell on Thursday, ending a stretch of seven straight daily gains in the domestic market. According to the All-Pakistan Gems and Jewellers Sarafa Association (APGJSA), the local tola price dropped Rs3,500 to Rs460,436, while the 10-gram rate eased Rs3,001 to Rs394,749. Internationally, bullion lost $35 an ounce, settling at $4,380.

Silver followed a similar path, with its international price down $1.75 per ounce at $64.57. Locally, the tola rate of silver slipped Rs175 to Rs6,936, while the 10-gram figure dropped Rs150 to Rs5,946. The decline came after a rise on Wednesday, when gold had climbed Rs4,200 per tola to Rs463,936 locally and $42 to $4,415 an ounce abroad.

Earlier in the week, the tola rate rose on Saturday, Monday and Tuesday, climbing from Rs456,536 to Rs459,736 before Wednesday's larger jump. According to the APGJSA, the 10-gram rate reached Rs394,149 on Tuesday after a Rs2,058 increase. Silver also edged up Rs77 to Rs6,903 per tola in the domestic market.