Gold prices drop by Rs8,100 per tola

KARACHI (Dunya News) – Gold prices in Pakistan continued their downward trend on Friday, with both local and international markets showing declines.

The price of gold per tola fell by Rs8,100 to Rs491,362, while 10 grams of gold dropped by Rs6,945 to Rs421,263.

In the global market, the price of gold per ounce declined by $81, reaching $4,686. Silver prices also fell, with the per tola rate decreasing by Rs50 to Rs7,684.

Yesterday, gold had already experienced a significant drop of Rs24,300 per tola, bringing the price below Rs500,000.

Analysts attribute the continued decline to global market fluctuations and changing investor sentiment.

A day earlier, Significant declines were recorded in gold and silver prices both internationally and domestically.

In the international market, gold prices fell sharply by $243 per ounce, reaching $4,767.

Domestically, 24-carat gold per tola dropped by Rs 24,300 to Rs 499,462, while the 10-gram price fell by Rs 20,833 to Rs 428,208.

Silver prices also decreased, with 24-carat silver per tola falling by Rs 760 to reach Rs 7,734.

The decline reflects global market trends, impacting both investors and consumers in Pakistan.

A day earlier, prices remained stable in both global and local markets with no change reported in rates.

According to the All Pakistan Sarafa Gems and Jewellers Association, the price of gold per tola in Pakistan remained unchanged at Rs523,762, while the price of 10 grams of gold also stayed stable at its previous level of Rs449,041.

In the international market, the price of gold per ounce also remained steady without any change at $5,010.

Meanwhile, the price of silver in Pakistan declined, with the per tola rate falling by Rs75 to reach Rs8,494.