Gold prices in Pakistan witnessed a decline on Friday, reflecting a drop in international market rates.
The price of one tola of gold in the local market fell by Rs800, settling at Rs273,200. The price of 10 grams of gold decreased by Rs686, bringing it down to Rs234,225, according to data from the All-Pakistan Gems and Jewellers Sarafa Association (APGJSA).
This reduction in gold prices follows a notable rise on Thursday when the price per tola surged by Rs1,400 in Pakistan.
On the global front, the price of gold decreased on Friday, with the international rate dipping to $2,620 per ounce, marking a $8 decline during the day.
This price included a premium of $20, as reported by APGJSA.
Meanwhile, silver prices remained unchanged in the local market, holding steady at Rs3,350 per tola.
Internationally, gold prices edged lower in light trading on Friday, but remained on track for a weekly gain. Investors are awaiting further signals regarding the US economy and the Federal Reserve’s anticipated interest rate policies for 2025, as well as the economic agenda of the incoming Donald Trump administration.
Spot gold had fallen 0.2% to $2,630.28 per ounce, while US gold futures eased by 0.2% to $2,649.10 per ounce.
