Gold prices continued their downward trend in Pakistan on Friday, providing further relief to buyers after recent market volatility. The latest decline follows another significant correction in the international bullion market, which has also weighed on domestic prices.
According to the All Pakistan Bullion Gems and Jewellers Association, the price of 24-karat gold per tola dropped by Rs4,600. As a result, the new price stands at Rs427,436 per tola.
Meanwhile, the price of 10 grams of 24-karat gold also recorded a notable decline. It fell by Rs3,944, bringing the new rate to Rs366,457.
Gold Prices Continue to Decline
The latest adjustment marks another sharp fall in domestic bullion prices. Moreover, the All Pakistan Bullion Association confirmed the revised rates, stating that both local and international market conditions contributed to the decline.
Bullion dealers noted that gold has become cheaper by Rs6,400 per tola over the past two days. Therefore, buyers have witnessed one of the fastest price corrections in recent weeks.
Although prices remain elevated compared to previous months, the latest reduction has offered temporary relief to consumers planning to purchase gold.
Silver Prices Also Register a Decline
Silver prices also moved lower alongside gold.
According to the latest market update, the price of 24-karat silver per tola decreased by Rs61. Consequently, the new silver rate now stands at Rs6,309 per tola.
The decline reflects the broader trend in precious metals, as both gold and silver experienced downward pressure in domestic and international markets.
International Gold Market Influences Local Rates
The global bullion market also recorded a noticeable decline on Friday.
Gold prices in the international market fell by $46 per ounce, bringing the rate down to $4,050 per ounce. This decline played a major role in shaping domestic bullion prices across Pakistan.
Local traders explained that international market movements continue to influence gold prices in the country. Therefore, any significant fluctuation in global bullion rates is quickly reflected in local markets.
Market Sentiment Behind the Price Correction
Bullion traders said the latest decline mirrors weakness in the international market. They added that changing investor sentiment has placed additional pressure on precious metal prices.
As investors adjust their market positions, gold has experienced a noticeable correction after previous gains. Consequently, domestic prices have also moved lower over the past two trading sessions.
While market conditions remain uncertain, traders continue to monitor international developments closely. Future price movements will largely depend on global bullion trends and investor confidence.
For now, the latest correction has reduced gold prices by Rs6,400 per tola within just two days, making it one of the sharpest recent declines in Pakistan’s bullion market.
