Gold Prices Plunge in Pakistan, Silver Hits Record High

gold prices just took a nosedive. The All-Pakistan Gems and Jewellers Sarafa Association (try saying that three times fast) said gold dropped by Rs. 4,578 per tola, landing at Rs. 420,600. Even the 10-gram price wasn’t spared, falling by Rs. 3,924 and hanging out at Rs. 360,597.

Just yesterday, gold was chillin’ at Rs. 425,178 per tola. That didn’t last.

Globally, things weren’t much better—gold prices slipped to $3,995 per ounce (and yeah, that already includes a $20 premium). That’s $44 down the drain in a single day, if you’re counting.

But silver? Oh, silver is out here living its best life. The price per tola jumped by Rs. 34, smashing records at Rs. 5,100. Silver’s basically flexing on gold at this point.

Even with the little tumble, international gold prices stayed below $4,000 an ounce on Friday and, get this, are still riding an eight-week winning streak. Why? Classic drama—geopolitical jitters, economic chaos, and everyone’s betting the US Fed will cut interest rates again.

By 0514 GMT, spot gold eased off just 0.1% at $3,971.43 per ounce, but it’s still up 2.2% for the week. So, yeah, gold’s having a moment—but not