Karachi (Web Desk): The prices of precious metals fell sharply in Pakistan on Friday, with gold recording a notable decline in both local and international markets.
According to the latest rates released by the All Pakistan Sarafa Gems and Jewellers Association, the price of 24-karat gold dropped by Rs4,600 per tola, bringing the new rate down to Rs427,436. Likewise, the price of 10 grams of 24-karat gold decreased by Rs3,944 to settle at Rs366,457, while 10 grams of 22-karat gold became cheaper by Rs3,615, reaching Rs335,931.
The downward trend was also reflected in the global bullion market, where gold prices fell by $46 per ounce, taking the international rate to $4,050 per ounce.
Silver prices also moved lower in the domestic market. The price of one tola of silver declined by Rs61 to Rs6,309, while the rate for 10 grams slipped by Rs53 to Rs5,408.
On the international market, silver also registered losses, with its price falling by $0.61 to settle at $58.30 per ounce, according to the association.