Gold prices in Pakistan experienced a significant decline on Friday, reversing the gains recorded in the previous session as local bullion markets responded to specific trading conditions. This shift occurred despite only minor fluctuations in the international gold market.
The price of 24-karat gold dropped by Rs1,469 per tola—a traditional unit of weight equal to 11.66 grams—closing at Rs467,816, figures from the All-Pakistan Gems and Jewellers’ Sarafa Association (APGJSA). This decrease wiped out most of the Rs1,523 increase seen on Thursday, when gold had reached Rs469,285 per tola.
Similarly, the price of 10 grams of 24-karat gold fell by Rs1,323, settling at Rs401,012 compared to Thursday’s closing rate of Rs402,335.
In a notable contrast to Thursday’s upward trend, when local gold prices mirrored a $14 rise in global spot gold to $4,468 per ounce, Friday’s domestic prices diverged from the international market. While global gold prices remained steady around $4,470 per ounce, local rates were influenced by changes in currency valuations and a slowdown in demand across major urban retail centers such as Karachi, Lahore, and Islamabad.
Meanwhile, silver prices in the domestic market held relatively steady on Friday after a brief decline of Rs97 per tola the day before, with silver settling at Rs7,797.
