Gold rate in Pakistan fell sharply on Friday, with 24-karat gold dropping Rs5,600 per tola to Rs456,736, marking the metal’s biggest single-day decline in more than two weeks.
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The latest drop pushed gold below the Rs460,000 mark as weaker international prices increased selling pressure in the local bullion market.
According to the latest rates, the 24-karat gold price in Pakistan fell to Rs456,736 per tola from the previous level. The decline extended the recent correction that has taken gold prices significantly lower from their late-August peak.
The price of 24-karat gold decreased by Rs4,801 per 10 grams, while 22-karat gold fell by Rs4,401.
The international gold price fell by $56 per ounce to $4,342, reaching its lowest level in several weeks. The decline in global prices provided a strong bearish signal for Pakistan’s bullion market.
A day earlier, Pakistan’s bullion market saw gold rate decline slightly on Thursday, with the 24-karat gold rate falling Rs600 to Rs462,336 per tola as the precious metal continued its gradual retreat from recent highs.
The latest gold rates are officially certified by the All Pakistan Sarafa Gems and Jewellers Association (APSGJA) and are based on interbank exchange rates for 999 purity (24-karat gold).
