Gold prices in Pakistan fell sharply on Friday, mirroring losses in the international market. The price per tola dropped by Rs2,000 to Rs431,862, raising concerns among investors and buyers.
The All-Pakistan Gems and Jewellers Sarafa Association (APGJSA) reported that 10-gram gold lost Rs1,714, reaching Rs370,252. On Thursday, gold had already decreased by Rs3,500 per tola, showing continued volatility in the local market.
Read more: Gold price dips to Rs 433,862 a tola
Silver also saw a decline, falling Rs43 to Rs5,067 per tola. Market analysts say the drop reflects global price pressures, a stronger U.S. dollar, and investors adjusting positions ahead of key economic data.
Internationally, gold eased to $4,095 per ounce with a $20 premium, down $20 from Thursday. Spot gold traded at $4,118.68 per ounce, down 0.2%, while U.S. gold futures for December delivery fell 0.3% to $4,133.40 per ounce.
Read more: Gold Prices Drop Sharply After Record High Surge
Experts note that gold is heading for its first weekly loss in 10 weeks, with bullion prices down 3% this week—the biggest weekly drop since mid-May. The fall highlights investors’ caution ahead of a major U.S. inflation report expected later Friday.