Key Points
- Gold falls to Rs 454,862 per tola in the local market
- 10-gram gold declines by Rs 772
- International gold slips to $4,325 per ounce
ISLAMABAD: Gold prices in Pakistan declined on Friday, tracking losses in the international bullion market, according to data released by the All-Pakistan Gems and Jewellers Sarafa Association (APGJSA).
In the local market, the price of gold per tola fell by Rs 900 to settle at Rs 454,862. Similarly, the price of 10-gram gold dropped by Rs 772 to Rs 389,970.
The decline followed a sharp increase in the previous session, when gold prices had risen by Rs 2,200 per tola to close at Rs 455,762.
Internationally, gold prices edged lower as the metal faced selling pressure in global markets. The price of gold fell by $9 to $4,325 per ounce, including a premium of $20, according to market data.
Market participants have observed that fluctuations in international prices continued to influence local rates, as domestic bullion prices largely mirror movements in the global market.
Meanwhile, silver prices also moved down in the local retail market. Silver price per tola dropped by Rs 52 to settle at Rs 6,848, the association said.
