Gold prices recorded another sharp decline in Pakistan on Friday, following a fall in international markets. The drop affected gold and silver rates for consumers and investors.
According to the All Pakistan Sarafa Gems and Jewellers Association (APGJSA), the price of 24-carat gold decreased by Rs3,600 per tola. The new price reached Rs421,836 per tola.
The association said the price of 10 grams of gold also declined by Rs3,086. The rate dropped to Rs361,656 after the latest adjustment in the domestic market.
Read more: Gold prices rise by Rs 400 per tola
Meanwhile, gold prices also decreased in the international market. The global price of gold fell by $36 per ounce, reaching $3,994 per ounce during trading.
The decline followed a brief one-day gap after previous price movements in the precious metals market. Traders and investors continued monitoring global trends and market conditions.
Additionally, silver prices also recorded a decrease in Pakistan. The APGJSA reported that silver fell by Rs126 per tola, bringing the new price to Rs6,029 per tola.
Read more: Gold prices rise by Rs 900 per tola
Market participants are closely watching international developments, currency movements, and demand trends. These factors continue to influence precious metal prices in local and global markets.