Gold prices recorded a sharp decline in global and domestic markets on Friday. In the international bullion market, the price of gold per ounce fell by $155, bringing it to $4,545 per ounce.
According to the All-Pakistan Gems and Jewellers Sarafa Association, local markets also saw a significant drop on the last business day of the week, the price of gold per tola decreased by Rs15,500 to Rs476,862. Similarly, the price of 10 grams of gold fell by Rs13,289 to Rs408,832.
Meanwhile, silver prices also declined in the country. The price of per tola silver dropped by Rs972 to Rs8,232, while the price of 10 grams of silver fell by Rs833 to Rs7,057.
Spot silver fell 7.2% to $77.46 per ounce, platinum lost 2.9% to $1,996.34, and palladium was down 1.4% at $1,417.18. All three were headed for weekly losses.