Gold prices in Pakistan continued their downward trajectory on Friday, marking a decline for the second consecutive day, reflecting trends in the international market. According to data released by the All Pakistan Gems and Jewellers Association, the per tola price of gold fell by Rs1,000, bringing it down to Rs467,262.
Similarly, in the local market, the price of 10 grams of gold decreased by Rs858, reaching a new rate of Rs400,601. Analysts attributed the fall to fluctuations in global bullion rates, which have been experiencing moderate corrections in recent sessions. In the international market, the price of gold per ounce declined by $10, with the latest trading value hovering around $4,445, signaling cautious investor sentiment amid economic uncertainties.
The decline in gold prices in Pakistan has been mirrored by a slight drop in silver rates. The per tola price of silver decreased by Rs30 to settle at Rs7,454, while the 10-gram rate fell to Rs6,390. Market experts suggest that the downward movement in precious metal prices, including gold and silver, is influenced by global factors such as currency fluctuations, changes in demand, and international trade developments.
Overall, the continuous fall in gold prices is significant for both investors and traders in Pakistan, as it may impact buying patterns and jewelry sales. Despite the dip, gold remains a key asset for savings and investment in the country, with its performance closely watched against international benchmarks and local market dynamics.
Also Read: Gold Rate Today in Pakistan
