Gold prices in Pakistan declined further on Friday in line with their decrease in international rates. In the local market, the price of gold per tola decreased by Rs800, clocking in at Rs282,300.
Similarly, 10-gram gold was sold at Rs242,027 after it recorded a decrease of Rs686, according to rates shared by the All-Pakistan Gems and Jewellers Sarafa Association (APGJSA).
On Thursday, gold price had decreased by Rs2,300 to settle at Rs283,100.
Meanwhile, the international rate of gold decreased on Friday. As per APGJSA, the rate was at $2,726 per ounce (with a premium of $20) and was down by $8 during the day.
Silver prices remained stable at Rs3,350 per tola.
On Wednesday, gold prices hit a record-high level of Rs285,400 per tola.
Globally, gold prices eased on Friday but was on track for a weekly gain, as investors sought the safe-haven metal amid rising geopolitical tensions, while palladium was poised for its strongest week in more than a month.
Bullion is considered a hedge against economic and geopolitical uncertainties.
Source: Brecorder
