KARACHI: Gold prices fell sharply in the local market on Friday, shedding Rs7,100 per tola after a significant decline in international bullion rates drove adjustments across precious metals.
The All Pakistan Sarafa Gems and Jewellers Association (APSGJA) said 24-karat gold dropped to Rs533,262 per tola, while the price of 10-gram gold fell Rs6,087 to Rs419,102.The slide tracked a $71 decline in international markets, where gold settled at $5,105 per ounce. Local prices in Pakistan are typically benchmarked to global rates with a premium of $20 per ounce.
Silver also retreated, with the per-tola price falling Rs324 to Rs8,851. The 10-gram rate declined Rs278, closing at Rs7,588.The drop marks one of the steeper single-session corrections in recent weeks, though bullion remains elevated by historical standards amid persistent global economic uncertainty.
