KARACHI (Web Desk) – Gold prices in Pakistan fell sharply on Friday, with the rate of 24-karat gold declining by Rs7,000 per tola amid a downturn in international bullion markets.
According to the Sarafa Association, 24-karat gold was priced at Rs424,536 per tola, while the price of 10 grams dropped by Rs6,001 to Rs363,971.
The decline followed a fall in international gold prices, which decreased by $70 per ounce to reach $4,020, reflecting a broader downward movement in precious metals.
Silver prices also recorded a significant reduction in the local market. The rate of 24-karat silver fell by Rs221 per tola to Rs5,865.
Gold prices in Pakistan are influenced by international bullion rates, currency fluctuations and domestic market conditions. Changes in global prices can therefore have a direct impact on local rates.
The latest decline may offer some relief to jewellery buyers, particularly families preparing for weddings and other occasions. However, the final retail cost of jewellery may remain higher due to making charges, taxes and other applicable expenses.
Market participants will continue to monitor international bullion trends and exchange-rate movements to assess the future direction of gold and silver prices.
