After increasing for three consecutive sessions, gold prices in Pakistan declined on Friday in line with their decrease in international rates. In the local market, the price of gold per tola was down by Rs300, clocking in at Rs276,700.
Similarly, 10-gram gold was sold at Rs237,226 after it recorded a decrease of Rs256, according to rates shared by the All-Pakistan Gems and Jewellers Sarafa Association (APGJSA).
On Thursday, gold price had increased by Rs1,500 to settle at Rs277,000.
Meanwhile, the international rate of gold reduced on Friday. As per APGJSA, the rate was at $2,663 per ounce (with a premium of $20), and lowered by $2 during the day.
Silver prices remained stable at Rs3,050 per tola.
On Thursday, gold prices hit a record high level of Rs277,000 per tola in Pakistan.
Experts have attributed the recent increase in gold prices to developments on the global front, including escalating geopolitical tensions in the Middle East, Fed rate cuts and soaring demand from major markets like China and India.
Source: Brecorder
