Gold prices in Pakistan dropped sharply on Friday, following a significant decline in international bullion markets. The price of gold fell by Rs14,900 per tola, bringing the rate down to Rs438,036. The decline affects investors, jewellers, and consumers tracking precious metal prices across the country.
According to the All-Pakistan Gems and Jewellers Sarafa Association, the price of 10 grams of gold also declined substantially. The rate for 10 grams fell by Rs13,410 to settle at Rs374,205. The sharp decrease reflects the strong influence of global market movements on domestic gold prices.
Meanwhile, international gold prices recorded a major decline during the trading session. The global rate of gold fell by $149 per ounce to reach $4,156, including a premium of $20. Consequently, local bullion markets adjusted prices downward in line with international trends.
Market experts noted that fluctuations in global gold prices continue to shape Pakistan’s bullion market. Economic uncertainty, changing investor sentiment, and shifts in international demand often impact gold valuations. Therefore, traders and investors closely monitor developments in overseas markets for pricing direction.
The latest decline follows a smaller decrease recorded a day earlier. On Thursday, gold prices had dropped by Rs2,300 per tola, closing at Rs452,963. The continued downward trend highlights ongoing volatility in the precious metals market and may encourage buying interest from consumers seeking lower prices.