ISLAMABAD (Kashmir English): Gold prices in Pakistan have witnessed another significant decrease in both international and domestic markets on Friday.
According to the All Pakistan Sarafa Gems and Jewelers Association, the price of gold per tola has dropped by Rs8,100 to reach Rs491,362. Similarly, the price of 10 grams of gold has plunged by Rs6,945 to Rs421,263.
The prices have also decreased in the international bullion market, with gold per ounce increasing by $81 to $4,686.
The price of silver has also declined by Rs50 per tola to Rs7,684, while it decreased by Rs43 per 10 grams to Rs6,587.
Gold prices in Pakistan today
| CITY | GOLD 24K TOLA | GOLD 24K 10 gram |
|---|---|---|
| Karachi | Rs491,362 | Rs421,263 |
| Islamabad | Rs491,362 | Rs421,263 |
| Lahore | Rs491,362 | Rs421,263 |
| Multan | Rs491,362 | Rs421,263 |
| Peshawar | Rs491,362 | Rs421,263 |
Earlier on Thursday, the price of 24 karat per tola gold plunged by Rs24,300 to settle at Rs499,462, All Pakistan Sarafa Gems and Jewellers Association said.
It said that the price of 10 grams of gold fell by Rs 20,833 to Rs 428,208. The price of per tola silver decreased by Rs 760 per tola to Rs 7,734.
The prices have also decreased in the international bullion market, with gold per ounce increasing by $ 243 to $ 4,767.
The sharp decline comes a day after gold prices remained unchanged at Rs523,762 per tola on Wednesday, indicating heightened volatility in the local bullion market. Silver prices also followed the downward trend on Thursday, decreasing by Rs760 to Rs7,734 per tola.
In the global market, spot gold fell nearly 4% to $4,629.29 per ounce by late Thursday morning trading, marking its lowest level since early February, according to Reuters. Meanwhile, US gold futures for April delivery dropped 5.4% to $4,632.40 per ounce.
