The price of 24 karat Gold dropped by Rs1,000 on Friday, reaching Rs395,800 per tola compared to Rs396,800 on the previous trading day.
According to the All Pakistan Sarafa Gems and Jewellers Association, the price of 10 grams of 24 karat Gold also fell by Rs858, settling at Rs339,334 against Rs340,192 a day earlier. Meanwhile, 10 grams of 22 karat Gold slipped to Rs311,067 from Rs311,854, showing a decline of Rs787.
In the international market, the price of Gold declined by $10, falling to $3,740 from $3,750. The drop reflects a cooling trend in global bullion markets after recent gains.
While gold prices decreased, silver showed a mixed trend in the domestic market. The price of silver per tola rose by Rs64, reaching Rs4,599. However, the rate of 10 grams of silver decreased by Rs55 to Rs3,942.
Internationally, silver prices registered an increase of $0.64, climbing to $45.00 from $44.36.
Market experts said the decline in Gold prices was influenced by global movements and changing investor sentiment. The fluctuation is also linked to international economic conditions and currency shifts.
Jewellers noted that demand for gold in the local market remains steady despite the price drop. However, they expect rates to remain volatile in the coming days, depending on global market trends.
Analysts said both gold and silver are likely to see continued price adjustments as international markets respond to economic data and central bank policies.
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