Gold prices decline in Pakistan after hitting record high

After reaching an all-time high in the previous session, gold prices in Pakistan declined on Friday, reflecting a downturn in international rates.

According to the All-Pakistan Gems and Jewellers Sarafa Association (APGJSA), the price of gold per tola fell by Rs2,000, settling at Rs307,000 in the local market. Similarly, the price of 10-gram gold dropped by Rs1,714, bringing it to Rs263,203.

On Thursday, gold prices had surged by Rs1,000 per tola, reaching a historic high of Rs309,000. However, global trends led to a decline on Friday, with the international gold rate falling by $23 to $2,930 per ounce (including a $20 premium), as reported by APGJSA.

Meanwhile, silver prices also saw a decline, decreasing by Rs38 to settle at Rs3,430 per tola.