Gold prices in Pakistan have declined after hitting an all-time high the day before.
On Wednesday, gold crossed the PKR 500,000-per-tola mark for the first time, setting a new record and breaking all previous price levels.
On Thursday, the price of gold fell by PKR 800 per tola, bringing the new rate down to PKR 505,562.
The price of 10 grams of gold also declined. It dropped by PKR 686, with the new price set at PKR 433,437.
Read: Gold Breaks $4,800 Record Ahead of Trump’s Davos Visit
Internationally, gold prices also moved lower. The price per ounce fell by USD 8, settling at USD 4,832.
Silver prices followed a similar trend. After touching a record high on Wednesday, silver became cheaper by PKR 30 per tola on Thursday. The new price is PKR 9,904 per tola.
Market analysts say short-term profit-taking after record highs often leads to brief corrections in precious metal prices.
