Gold prices fall sharply in Pakistan amid decline in global market

Gold prices registered a significant decline in Pakistan on Friday in line with a decrease in rates in the international market.

According to market data released in Karachi, the price of gold per tola fell by Rs2,700, bringing the new rate down to Rs494,062.

Similarly, the price of 10 grams of gold decreased by Rs2,315 to settle at Rs423,578 in the local bullion market.

Meanwhile, gold prices in the international market also witnessed a decline. The price of the precious metal dropped by $27 per ounce, reaching $4,717 per ounce.

Bullion traders said fluctuations in global prices continued to impact the local market, resulting in frequent changes in gold rates.