ISLAMABAD: Gold prices declined in Pakistan on Friday, according to the All-Pakistan Gems and Jewelers Sarafa Association. The price of 24-karat gold dropped by Rs2,000 to Rs431,862 per tola. The rate for 24-karat gold per 10-gram fell by Rs1,714 to Rs370,252. Dealers quoted the 22-karat rate at Rs339,410 per 10-gram. Local traders attributed the downward movement to weakness in international bullion markets.
Silver Prices Also Move Lower
Silver registered a decrease in the domestic market. The rate for 24-karat silver fell by Rs43 to Rs5,067 per tola. The price for 10-gram silver declined by Rs37 to Rs4,344. The latest decline indicated broad weakness across precious metals in Pakistan.
Market Performance Summary
Recent data showed week-to-week adjustments impacting both metals. Gold has posted notable gains over the fiscal year to date, despite the latest dip. Silver has also recorded increases compared to earlier months. The following comparison of per-tola prices highlights day-to-day changes:
Gold: Rs431,862 on Oct 24 vs Rs433,862 on Oct 23 (-Rs2,000)
Silver: Rs5,067 on Oct 24 vs Rs5,110 on Oct 23 (-Rs43)
International Prices Pressure Bullion
Globally, spot gold traded near 4,074 dollars an ounce, down 47.2 dollars or 1.14 percent. The metal headed for its first weekly decline in 10 weeks as the United States dollar strengthened. Analysts linked the downturn to investor caution before a key U.S. inflation report expected later in the day. Traders adjusted positions in anticipation of potential monetary policy signals.
Pakistan’s bullion market continued to track global sentiment closely, with volatility expected to persist.
