The price of 24-karat gold dropped by Rs. 3,300 per tola on Friday, selling at Rs. 348,700 compared to Rs. 352,000 the previous day, according to the All Pakistan Sarafa Gems and Jewelers Association.
Earlier this week, the precious metal had reached a record high of Rs. 363,700 but has since seen a decline.
Similarly, the price of 10 grams of 24-karat gold fell by Rs. 2,833 to Rs. 298,950, down from Rs. 301,783, while 10 grams of 22-karat gold dropped by Rs. 2,597 to Rs. 274,047 from Rs. 276,644.
Silver prices also saw a dip, with per tola and 10-gram rates falling by Rs. 40 and Rs. 35 respectively, now standing at Rs. 3,497 and Rs. 2,998.
Meanwhile, gold prices in the international market slid by $33 to $3,305 per ounce, though silver gained $0.40, reaching $33.33 from $32.93.