ISLAMABAD: Gold prices in Pakistan fell on Friday, as international rates also slipped, almost as if they were on a short leash. The local market mirrored these global losses, and it recorded a sharp drop, without much delay.
For Pakistan, the price of gold per tola went down by Rs. 15,500. It finished at Rs. 476,862. Meanwhile, the rate for 10 grams also eased by Rs13,289, and it ended at Rs. 408,832, this was according to the All-Pakistan Gems and Jewellers Sarafa Association (APGJSA).
On Thursday, things looked different; gold prices moved the other way. The per tola rate edged up by Rs. 1,000 and reached Rs. 492,362.
But that rise sort of unraveled in the very next trading session. Globally, in the international market, gold declined by $155 per ounce. It settled at $4,4545 per ounce, with a $20 premium included.
That broader weakness seemed to drag local prices down, too. Silver prices were not spared either in the domestic market. The per tola rate dropped by Rs. 972 and closed at Rs. 8,232.
