Gold prices in Pakistan fell on Friday following a decline in global markets. The rate dropped by Rs2,900 per tola during the day. The decrease reflects weaker international demand and price corrections.
In the local market, gold per tola reached Rs490,862 after the latest drop. Ten-gram gold was sold at Rs420,835 following a decline of Rs2,486. Rates were shared by the All-Pakistan Gems and Jewellers Sarafa Association.
Read more: Gold prices slashed by Rs 5,200 per tola
Globally, gold prices also moved downward during the trading session. The international rate fell by $29 to reach $4,685 per ounce. This included a $20 premium in the reported price.
A day earlier, gold had already declined by Rs5,200 per tola in Pakistan. That previous drop pushed prices to Rs493,762 before the latest adjustment. Meanwhile, silver prices also weakened by Rs142 per tola.
Read more: Gold prices down by Rs 1,000 per tola
Overall, the precious metals market continued its downward trend amid global fluctuations. Traders in Pakistan are closely watching international movements for further direction. Market volatility is expected to continue in the coming sessions.