Gold prices in Pakistan fell sharply on Friday, mirroring a decline in international bullion markets. The price of gold dropped by Rs1,400 per tola to Rs432,436, while 10-gram gold also recorded a significant decrease. Meanwhile, silver prices moved higher, reflecting mixed trends in the precious metals market.
According to the All-Pakistan Gems and Jewellers Sarafa Association (APGJSA), the price of 10-gram gold declined by Rs1,200 to Rs370,744. The latest adjustment follows a strong rally in the previous trading session, when gold prices surged in the domestic market.
Read more: Gold prices up by Rs 3,600 per tola
On Thursday, the price of gold had increased by Rs3,600 per tola, closing at Rs433,836. However, the upward momentum reversed after international bullion prices weakened. Dealers said local gold prices generally follow movements in the global market.
In the international market, gold prices fell by $14 per ounce, bringing the rate to $4,100 per ounce, including a premium of $20. The decline in global prices contributed directly to the reduction in domestic gold rates across Pakistan.
Read more: Gold prices fall by Rs 4,700 per tola
Unlike gold, silver recorded gains during the session. The price of silver increased by Rs11 per tola, reaching Rs6,432. Market analysts said investors will continue monitoring global economic developments and precious metal trends for further price direction.