KARACHI – The price of gold in Pakistan fell by Rs5,600 per tola, dropping to Rs456,736 in the local markets amid continued geopolitical uncertainty on Friday.
The latest decline came after the international bullion market recorded a significant drop in gold prices. The price of gold fell by $56 per ounce, bringing the international rate down to $4,342 per ounce.
The decline in international prices was reflected in the domestic market, where the price of gold fell substantially during Friday trading.
According to market data, the price of 10 grams of gold decreased by Rs4,801, reaching Rs391,577.
The latest reduction extends the downward trend witnessed in precious metal prices as investors continue to assess developments in global markets and the uncertain geopolitical environment.
Meanwhile, silver prices also recorded a decline in both international and domestic markets.
The international price of silver decreased by $2.53 per ounce, falling to $63.92 per ounce.
Following the decline in the international market, the price of silver in Pakistan dropped by Rs253 per tola to Rs6,871.
The price of 10 grams of silver also decreased by Rs217, settling at Rs5,890.
Market movements in precious metals are closely linked to international bullion prices, currency fluctuations and developments in the global economic and geopolitical environment.
The sharp fall in international gold prices consequently placed downward pressure on domestic rates, resulting in a significant reduction in the price of gold for consumers in Pakistan.
Gold and silver prices remained sensitive to changes in international market sentiment, with geopolitical developments and investor activity continuing to influence trading trends.
The latest figures showed that both precious metals remained under pressure in Pakistan on Friday, with gold registering a particularly notable decline of Rs5,600 per tola.
