KARACHI: The local and international gold prices on Thursday receded from the all-time highs with global bullion value hovering close to $2500 per ounce, traders said.

The local market saw a sizeable fall by Rs1000 and Rs857 to dislodge the gold prices from all-time highs to Rs263000 per tola and Rs225480 per 10 grams, respectively.

Gold bullion prices on the world market also slipped from the record levels, dropping by $8 to $2,515 per ounce, while silver was trading at $29 per ounce, according to traders.

However, silver prices on the domestic market remained stable at Rs2900 per tola and Rs2486.20 per 10 grams, traders added.

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