KARACHI: Gold prices in Pakistan witnessed another decline on Friday following a decrease in international gold rates. According to the All-Pakistan Gems and Jewellers Sarafa Association (APGJSA), the gold price per tola dropped by Rs500, bringing the new rate to Rs474,862 in the local market.
Similarly, the price of 10-gram gold decreased by Rs429 and was recorded at Rs407,117. The latest reduction comes after another major drop earlier this week when gold prices fell by Rs2,400 per tola in Pakistan.
Jewellers and traders linked the decline in local gold prices to fluctuations in the international bullion market. Reports stated that the international gold rate declined by $5 per ounce, reaching $4,525 with an additional premium of $20.
The silver market also showed a downward trend as silver prices decreased by Rs83 per tola. Following the decline, silver was available at Rs8,034 per tola in Pakistan’s local market.
Gold prices in Pakistan are largely influenced by international market trends and the value of the Pakistani rupee against the US dollar. Investors and traders continue to closely monitor global economic conditions, inflation concerns, and currency movements that directly impact bullion prices worldwide.
