Gold per tola falls Rs2,900 in Pakistan amid global dip

Gold prices in Pakistan extended their downward trend on Friday, mirroring losses in the international 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 dropped by Rs2,900 to settle at Rs490,862. Similarly, the rate for 10 grams of gold decreased by Rs2,486, reaching Rs420,835.

The latest decline follows a significant drop recorded a day earlier, when the price of gold per tola fell by Rs5,200 to close at Rs493,762 on Thursday.

Internationally, gold prices also edged lower, with the rate decreasing by $29 to settle at $4,685 per ounce, including a premium of $20. Market trends in Pakistan typically track movements in global bullion rates, alongside fluctuations in the exchange rate.

Meanwhile, silver prices also registered a decline in the domestic market. The price of silver per tola fell by Rs142, settling at Rs7,957.