KARACHI – Gold prices witnessed a sharp decline in Pakistan on Friday, falling below Rs440,000 per tola after international bullion rates recorded a steep drop.
According to the All Pakistan Sarafa Gems and Jewellers Association, the price of 24-karat gold decreased by Rs14,900 per tola to settle at Rs438,036.
Similarly, the price of 10 grams of gold fell by Rs13,410, closing at Rs374,205.
The decline followed a significant downturn in the international market, where gold prices dropped by $149 per ounce to settle at $4,156.
Silver prices also moved lower during the session. The price of silver per tola fell by Rs413 to Rs6,946, reflecting the broader weakness in precious metals markets.
Market observers attributed the decline in local rates to falling international prices, which continue to influence domestic bullion markets.
