Gold price decreases by Rs2,900 per tola in Pakistan

Karachi (Web Desk): Gold prices saw a decline in the domestic market on Friday, as rates for precious metals moved downward across all key categories.

According to the All Pakistan Sarafa Gems and Jewellers Association (APSGJA), showed that the price of 24-karat gold per tola dropped by Rs2,900, bringing it down to Rs490,862 from the previous day’s level of Rs493,762.

A similar decrease was recorded in the smaller weight category, where 10 grams of 24-karat gold became cheaper by Rs2,486 and settled at Rs420,835 compared to Rs423,321 earlier. The price of 10 grams of 22-karat gold also followed the downward pattern, falling by Rs2,279 to Rs385,779 from Rs388,058.

In the international bullion market, gold values also softened, with a reduction of $29 per ounce, taking the rate to $4,685 from $4,714 in the previous session.

Silver prices mirrored this overall weakening trend. Locally, the per tola rate of silver dropped by Rs142 to Rs7,957 from Rs8,099, while 10 grams of silver slipped by Rs122 to Rs6,821 compared to Rs6,943 earlier. On the global stage, silver also edged lower, decreasing by $1.42 per ounce to $74.73 from $76.15.