Gold price extends losses in Pakistan, falls Rs700 per tola

Gold price in Pakistan declined on Saturday, following a decrease in the international market, with the per tola rate falling by Rs700.

The yellow metal was priced at Rs410,936 per tola after the latest decline, according to rates released by the All-Pakistan Gems and Jewellers Sarafa Association (APGJSA).

Similarly, the price of 10-gram gold dropped by Rs600 to settle at Rs352,311.

The latest decline follows a sharp drop over the previous two sessions, during which gold lost Rs15,800 per tola amid a downturn in international bullion markets.

On Friday, gold prices fell by Rs4,900 per tola to Rs411,636, while the price of 10 grams declined by Rs4,201 to Rs352,911.

The market had recorded an even steeper decline on Thursday, when the per-tola rate dropped by Rs10,900 to Rs416,536.

In the international market, gold fell by $49 per ounce on Friday to settle at $3,891, according to the association’s figures.

Meanwhile, silver prices also registered a decline in the domestic market on Friday, with the price of a tola falling by Rs111 to Rs5,467. The price of 10 grams of silver decreased by Rs95 to Rs4,687.

International silver prices also dropped by $1.11 per ounce to $49.89.