Gold price sees second straight drop, reaches Rs282,300 per tola

ISLAMABAD: Gold price in Pakistan declined for the second consecutive trading session on Friday, after a drop in global markets.

The price of one tola of gold fell by Rs800 to Rs282,300 in the local market, while 10 grams saw a reduction of Rs686, reaching Rs242,027.

According to the All-Pakistan Gems and Jewellers Sarafa Association (APGJSA), on Thursday, gold prices had declined by Rs2,300, settling at Rs283,100 per tola.

Internationally, the gold rate dropped by $8 on Friday, standing at $2,726 per ounce, including a $20 premium.

Silver prices remained steady at Rs3,350 per tola.

Earlier in the week, on Wednesday, gold prices in Pakistan reached a record high of Rs285,400 per tola.

Although global gold prices dipped on Friday, they were still on course for a weekly gain, as investors turned to the safe-haven asset amidst escalating geopolitical tensions.

Palladium was also on track for its strongest week in over a month, underscoring bullion’s role as a hedge against economic and geopolitical uncertainties.

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