Gold prices in Pakistan declined on Friday, tracking losses in the international market where the metal fell to its lowest level in a year. Local rates came under pressure as white precious metals also weakened sharply amid a broader sell-off in technology shares.

In the domestic market, the price of gold per tola fell by Rs5,100 to reach Rs420,536, according to rates shared by the All-Pakistan Gems and Jewellers Sarafa Association (APGJSA). The price of 10-gram gold dropped by Rs4,373 to Rs360,541. On Thursday, the per-tola rate had remained unchanged at Rs425,636.

The decline mirrored movements overseas. Spot gold fell 3.1 per cent to $3,897.09 an ounce by 11:47 am ET, marking its lowest level since October 2025 and slipping below the key $4,000 level, as per Reuters. Silver dropped 6 per cent to $49 an ounce, breaking below $50 for the first time in 11 months. Palladium also weakened, sliding below $1,000 an ounce. Platinum moved in the same direction as the other white metals.

Market participants noted that silver, platinum and palladium had entered technically oversold territory based on their relative strength index (RSI) readings. The sell-off in precious metals coincided with a sharp drop in technology shares. Investors expressed concern that heavy spending on artificial intelligence may not generate sufficient returns in the near term, prompting a broader risk-off move across markets.

In the local silver market, the price declined by Rs238 to Rs5,530 per tola. The simultaneous weakness in both gold and silver reflected the influence of international benchmarks on domestic pricing.

The drop in gold prices follows a period of relative stability earlier in the week. Thursday's unchanged rates had provided a brief pause, but Friday's international decline quickly fed through to local quotes. Jewellers and traders typically adjust rates in line with global moves, adjusted for the rupee-dollar exchange rate and local premiums.

The current international levels place gold well below the $4,000 mark that had served as a psychological support in recent sessions. Silver's break below $50 ends an 11-month stretch above that level. For palladium, the move under $1,000 adds to pressure on the metal, which has already faced weaker industrial demand signals in some sectors.

Meanwhile, the Pakistani rupee closed the day at 276.75 against the US dollar, posting a marginal gain of Re0.01. On Thursday, the local currency had settled at 276.76.