Gold prices in Pakistan recorded a sharp decline on Friday, ending the stability seen in the previous trading session. After remaining unchanged a day earlier, the local bullion market experienced a significant drop, with rates falling notably across both tola and 10-gram measurements.
According to figures released by the All-Pakistan Gems and Jewellers Sarafa Association, the price of gold per tola decreased by Rs. 8,600, bringing the new rate down to Rs. 519,962. The reduction affected smaller quantities as well. The price of 10 grams of gold dropped by Rs. 7,373 and was recorded at Rs. 445,783. Traders said the fall reflects weaker global trends that directly influenced domestic prices.
Silver rates also followed the same downward movement in the local market. The price of silver per tola fell by Rs. 501, settling at Rs. 8,324. The drop in both gold and silver created some relief for buyers but added pressure on investors and traders who were expecting stable or rising prices.
The decline was mainly linked to developments in the international bullion market. Globally, gold prices decreased by $86 per ounce, closing at $4,972, which included a premium of $20. Since Pakistan’s gold rates are closely connected to international prices and currency exchange movements, any change in the global market quickly impacts local pricing.
Market analysts believe that fluctuations may continue in the coming days depending on global demand, investor sentiment, and economic conditions. For now, the sharp fall has shifted momentum in favor of buyers, while sellers remain cautious amid ongoing price volatility.
Read more: Gold and Silver Prices Drop Sharply, Markets Turn Volatile
