KARACHI: Gold prices experienced a sharp decline in the local market on Friday following a drop in international rates.
As per the All Pakistan Gems and Jewelers Association, the price of gold per tola fell by Rs 900, settling at Rs 454,862. Similarly, the rate for 10 grams of gold saw a reduction of Rs 772, bringing it down to Rs 389,970.
The Sarafa Association highlighted that gold prices in the global market also dipped by $9, closing at $4,325 per ounce.
Silver prices in Pakistan followed a similar trend. The price of 24-karat silver per tola dropped by Rs 52 to Rs 6,848, while 10 grams of silver declined by Rs 44, reaching Rs 5,871.
According to market experts, these fluctuations in global rates continue to directly influence local gold prices, prompting cautious behavior among investors and buyers.
