KARACHI – The gold prices in Pakistan continued their downward trend for a second consecutive day on Friday, with the price of the precious metal registering a significant decline in both local and international markets.
All Pakistan Sarafa Gems and Jewellers Association (APSGJA) said that the price of 24-karat gold per tola dropped by Rs4,600, bringing the new rate down to Rs427,436 across the country.
The decline follows another substantial decrease recorded a day earlier, when the price of gold fell by Rs1,800 per tola, extending the two-day cumulative drop to Rs6,400 per tola.
The association also reported a sharp reduction in the price of 10 grams of 24-karat gold, which fell by Rs3,944 to Rs366,457.
The downward trend in the domestic market came in line with falling international gold prices. In the global bullion market, the price of gold declined by $46 per ounce, settling at $4,050 per ounce.
The market analysts attributed the decline to weakness in international bullion prices, which typically influence local gold rates after adjustments for the exchange rate and other market factors. Gold prices in Pakistan are largely linked to movements in global markets, making them sensitive to changes in international demand, investor sentiment, and economic developments.
Jewellers said the continued decline could encourage buyers who had delayed purchases due to record-high prices in recent weeks. However, they noted that the bullion market remains highly volatile, and prices may continue to fluctuate depending on international economic conditions and currency movements.
