Gold prices in Pakistan fell sharply on Friday, dropping by Rs. 5,100 per tola to Rs. 420,536 as the international rate slipped below $4,000 per ounce.
The price of 10 grams of 24-karat gold also fell by Rs. 4,373 to Rs. 360,541, according to rates issued by the All-Pakistan Gems and Jewellers Sarafa Association (APGJSA).
Silver also became cheaper. The price of silver per tola dropped by Rs. 238 to Rs. 5,530.
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Gold Ends Two-Day Run
Friday’s fall came after gold held steady at Rs. 425,636 per tola on Thursday. A day earlier, it had gained Rs. 3,500 per tola.
With this decline, gold is now Rs. 21,500 below its October 10 peak of Rs. 442,036 per tola.
Global Gold Falls Below $4,000
The local rate followed the global trend. The international price of gold fell by $51 to $3,980 per ounce, slipping back below the $4,000 mark it had held since Wednesday.
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