ISLAMABAD: The gold prices recorded a significant decline in Pakistan on Friday, following a downward trend in the international bullion market, providing some relief to buyers after recent price hikes.
According to the All Pakistan Sarafa Gems and Jewellers Association (APSGJA), the price of 24-karat gold per tola in the local market decreased by Rs3,700, bringing the new rate down to Rs426,736.
Similarly, the price of 10 grams of gold fell by Rs3,202, settling at Rs365,857.
In this regard, the silver prices also witnessed a decline. The price of one tola of silver dropped by Rs57, taking the new rate to Rs6,237.
The decline in domestic prices came in line with the international market, where the price of gold fell by 37 US dollars per ounce, reaching 4,043 dollars.
The latest decrease follows a sharp increase recorded a day earlier when the price of gold in Pakistan had surged by Rs3,000 per tola, pushing it to Rs430,436. The rapid fluctuations highlight the continued volatility in both global and local precious metals markets.
Bullion dealers said the domestic gold market remains directly influenced by international price movements. They noted that ongoing uncertainty in the global economy, monetary policies adopted by central banks, inflationary pressures, and investors’ growing preference for safe-haven assets continue to shape gold prices worldwide.
Market experts believe that several factors, including the value of the US dollar, global economic conditions, geopolitical developments, and trends in international commodity markets, will play a key role in determining gold prices in the coming days.
They advised investors and consumers to closely monitor the latest developments in both domestic and international markets before making buying or selling decisions. Experts warned that even minor changes in global economic conditions or investor sentiment could have a noticeable impact on gold prices.
Despite the latest decline, analysts expect gold prices to remain volatile as international financial markets continue to respond to evolving economic data, inflation trends, and policy decisions by major central banks. They said fluctuations are likely to persist in the near term, making market awareness essential for investors, traders, and consumers alike.
