Gold prices in Pakistan fell on Friday, mirroring the international trend, while silver extended gains. In the global bullion market, the price of gold dropped by $11 to $3,657 per ounce.
Following suit, the domestic rate of 24-carat gold slipped by Rs1,100 per tola to Rs387,500, according to the All Pakistan Sarafa Gems and Jewellers Association (APSGJA).
The price of 10 grams declined by Rs943 to Rs332,218.
In contrast, silver prices moved higher, with the per-tola rate rising by Rs29 to Rs4,447 and the 10-gram price increasing by Rs25 to Rs3,812.
Read: Gold hits record highs in global, local markets
Earlier, gold prices in Pakistan had also declined on Wednesday, tracking losses in the international market, as investors booked profits after the precious metal scaled the $3,700-per-ounce mark in the previous session.
Internationally, spot gold was down 0.1% at $3,685.39 per ounce after hitting a record high of $3,702.95, according to Reuters.
The market is closely watching international developments, particularly the US Federal Reserve’s policy decisions, which could influence the short-term trajectory of precious metals.
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