Gold prices saw another sharp decline on Friday as both international and domestic markets registered downward movement for the second consecutive day.
In the international bullion market, gold per ounce dropped by $23, settling at $3,240, reflecting growing volatility in global precious metal markets.
This downward trend was mirrored in Pakistan’s domestic market, where the price of 24-karat gold per tola fell by Rs2,300, to Rs342,200. Similarly, the price of 10 grams of 24-karat gold declined by Rs1,972, to Rs293,381.
Silver prices also followed suit. The price of silver per tola decreased by Rs45, reaching Rs3,382, while the price of 10 grams of silver fell by Rs39 to Rs2,899.
It is worth noting that just a day earlier, gold prices in the local market had already dropped by Rs1,300 per tola, marking a two-day total decrease of Rs3,600.
Market analysts attribute the consistent decline in gold prices to shifting investor sentiment, fluctuating dollar rates, and speculation around interest rate policies in global economies.
