Gold prices in Pakistan experienced a decline on Friday, mirroring a decrease in international market rates.
The cost of one tola of gold in the domestic market dropped by Rs800, settling at Rs273,200, while the price for 10 grams fell by Rs686 to reach Rs234,225.
This information was provided by the All-Pakistan Gems and Jewellers Sarafa Association (APGJSA).
The reduction comes after a significant increase on Thursday when the price per tola surged by Rs1,400 in Pakistan.
Globally, gold prices also decreased on Friday, with the international rate dropping by $8 to $2,620 per ounce. This figure includes a $20 premium, as stated by the APGJSA.
In contrast, silver prices in the local market remained steady at Rs3,350 per tola, showing no change.
On the international stage, gold prices slipped slightly during light trading on Friday but stayed on track for a weekly gain.
Investors are closely watching for more insights into the U.S. economy, the Federal Reserve’s anticipated interest rate policies for 2025, and the economic plans of the incoming Donald Trump administration.
Spot gold declined by 0.2% to $2,630.28 per ounce, while U.S. gold futures also eased by 0.2%, settling at $2,649.10 per ounce.
