Gold prices in Pakistan fell sharply on Friday, in line with a drop in international bullion rates as investor demand weakened amid ongoing global economic uncertainty.
Figures issued by the All-Pakistan Gems and Jewellers Sarafa Association showed that the price of gold per tola declined by Rs3,300, bringing it down to Rs501,562 in the local market.
The price of 10-gram gold also went down by Rs2,829, settling at Rs430,008. Just a day earlier, the local market had recorded a short-lived recovery when gold per tola climbed to Rs504,862 after gaining Rs1,400, reflecting the continued ups and downs in bullion trading.
In the international market, gold prices also slipped, dropping by around $34 to trade close to $4,790 per ounce. This decline in global rates directly added pressure on domestic prices.
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Market observers linked the fall in prices to changing expectations about global interest rates, the strengthening of the US dollar, and profit booking by investors after gold touched recent highs.
Silver prices also moved lower in the local market. The rate per tola of silver fell by Rs70, closing at Rs8,444.
Experts noted that precious metals remain highly sensitive to economic signals such as inflation trends, central bank policies, and geopolitical developments, all of which continue to shape short-term price movements in both local and global markets.