Gold price in Pakistan continued to drop for the fifth consecutive session on Friday following a cut in global rates.
According to the All Pakistan Sarafa Gems and Jewellers Association, the price of 24-carat gold fell by Rs2,000 per tola, bringing it down to Rs431,862.
In the local market, the price of 10 grams of 24-carat gold decreased by Rs1,714, settling at Rs370,252. Similarly, 10 grams of 22-carat gold were sold at Rs339,410, down by a good Rs1,571 compared to the previous day.
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On the international front, gold dropped by $20, reaching $4,095 per ounce, reflecting a consistent downward trend driven by strengthening global currencies and cautious investor sentiment.
Silver also declines
Silver prices also followed the trend. The rate of 24-karat silver per tola dropped by Rs43 to reach Rs5,067, while 10 grams of silver fell to Rs 4,344.
Analysts note that fluctuations in the interbank exchange rate and uncertainty in global demand continue to impact precious metal prices in Pakistan. Investors are expected to watch both currency movements and international gold market trends closely in the coming days.
