Gold falls Rs2,000 per tola in Pakistan for fifth consecutive day

Gold prices decreased by Rs2,000 per tola in the local market on Friday, settling at Rs431, 862

According to the All Pakistan Sarafa Gems and Jewellers Association (APSGJA), the price of 24-carat gold declined by Rs2,000 per tola, bringing the new rate to Rs431, 862.

In the local market, the price of 10 grams of 24-carat gold dropped by Rs1, 714, settling at Rs370, 252. Likewise, 10 grams of 22-carat gold were priced at Rs339, 410, marking a decrease of Rs1, 571 from the previous day’s rate.

In the international market, gold prices fell by $20 to $4,095 per ounce, continuing a steady decline influenced by the strengthening of major global currencies and cautious sentiment among investors.

Silver prices also declined in line with the broader trend. The price of 24-carat silver fell by Rs43 per tola, settling at Rs5, 067, while 10 grams of silver dropped to Rs4, 344.

Market analysts observed that volatility in the interbank exchange rate and uncertainty in global demand are continuing to influence gold and silver prices in Pakistan.