Gold Prices Fall in Pakistan Following Global Market Decline
Gold prices in Pakistan declined on Friday, following international market trends, with the local rate per tola dropping by Rs8,600 to close at Rs519,962 amid cautious investor sentiment.
The 10-gram gold rate also fell, reaching Rs445,783 after a decrease of Rs7,373, as reported by the All-Pakistan Gems and Jewellers Sarafa Association, reflecting subdued domestic demand for the precious metal.
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On Thursday, gold had risen by Rs2,700 per tola to Rs446,862, showing short-term volatility in local trading, influenced by shifts in global gold prices and investor expectations in commodity markets.
Internationally, gold declined by $86 to $4,972 per ounce, with a $20 premium applied in Pakistan, while silver also fell by Rs501 per tola, closing at Rs8,324 amid weaker buying interest.