Gold prices drop after reaching record high in Pakistan

KARACHI: On Wednesday, gold prices in Pakistan’s local market recorded a decline, after which they reached the highest level in history.

According to data shared by the All Pakistan Gems and Jewelers Association, the price of gold per tola decreased by Rs 1,600 to Rs 301,500.

Similarly, the price of 10 grams of gold decreased by Rs 1,372 and the new price was settled at Rs 258,487.

The yellow commodity also faced losses in the international market where the per ounce rate decreased by $ 16 to close at $ 2,888.

Meanwhile, silver prices in Pakistan remained unchanged and the price per tola remained at Rs 3,373, while the price of 10 grams was Rs 2,891.

A day earlier, the price of gold per tola had increased by Rs 100 and the new price was settled at Rs 303,100. Similarly, the precious metal rose by Rs 86 to hit a record high of Rs 259,859.

The sharp rise in the price of the yellow metal in 2025 has been due to tariff threats from US President Donald Trump.

Amidst the uncertainty, investors and consumers are shifting their wealth from stocks and other risky assets to gold, which is considered a safe haven.

Last month, China announced tariffs of 10 to 15 percent on selected goods from the US, starting from February 10, reflecting the escalating tensions between the two countries.