Gold prices saw a significant decline both globally and in Pakistan today, halting the recent upward trend that had been setting new records.

According to the All Pakistan Sarafa Gems and Jewellers Association, the price of 24-karat gold per tola dropped by a sharp Rs3,400, settling at Rs345,800. Likewise, the price of 24-karat gold per 10 grams fell by Rs2,915 to Rs296,467, while 22-karat gold is now priced at Rs271,771 per 10 grams.

Silver prices also recorded a decrease, with the per tola rate falling by Rs70 to Rs3,427 and 10 grams by Rs60 to Rs2,938.

In the international bullion market, gold saw a one-day correction due to technical factors and profit-taking, leading to a $34 drop per ounce, bringing the price to $3,276.

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Just a day earlier, gold prices had surged by Rs2,100 per tola in Pakistan and by $21 per ounce globally.