Gold rates in Pakistan experienced a significant decrease on Friday, mirroring the decline observed in the international market.
According to the All Pakistan Gems and Jewellers Sarafa Association (APGJSA), the yellow metal was priced at Rs214,100 per tola after shedding Rs1,200 during the day.
The 10-gram gold rate also witnessed a decrease, with prices dropping to Rs183,556 after a decline of Rs1,029, as reported by the APGJSA.
This reversal follows a slight increase in gold prices on Thursday, where rates had gone up by Rs100 per tola in Pakistan.
However, the international market experienced a decline of $11, resulting in a $20 premium on the international gold rate, which was set at $2,040 per ounce on Friday.
The APGJSA further reported that the silver rate remained stable at Rs2,570 per tola in Pakistan.
The fluctuation in gold prices is attributed to the dynamic nature of the global market, where various economic factors and geopolitical events can influence the demand and supply dynamics of precious metals. Investors and consumers are advised to stay updated on market trends and consult with financial experts for informed decisions.
It is essential to note that gold and silver rates can be subject to change rapidly, and individuals are encouraged to monitor the market closely for real-time updates.
