Gold prices in Pakistan fell sharply on Friday, following a decline in international markets. The price per tola dropped by Rs21,400 to Rs507,762. Ten-gram gold was sold at Rs435,324 after a decrease of Rs18,347, according to APGJSA.
On Wednesday, gold prices had risen by Rs14,800 per tola to Rs529,162. Analysts say global market trends and investor sentiment continue to influence local gold rates. The international gold rate fell by $214 to $4,850 per ounce, with a $20 premium.
Read more: Gold rises, silver volatile as global markets tumble
The fall affected both domestic and export-oriented markets. Jewelers reported slower sales as buyers hesitated amid fluctuating prices. Traders expect further adjustments depending on international trends.
Silver prices also declined, falling by Rs1,430 per tola to Rs7,825. Market experts link the decrease to the overall slowdown in precious metals globally. Demand and supply factors continue to shape the local market.
Read more: Gold prices jump by Rs 14,800 per tola
Investors are advised to monitor both international and domestic markets before making purchases. The APGJSA confirmed that gold rates could fluctuate further in coming days. This decline marks one of the sharpest drops in recent months.