KARACHI: Gold prices declined sharply on Friday, mirroring the global bullion market’s slump, sinking under $3,300 per ounce, traders said.
World market lost $53 in a single trading session, taking bullion value down to $3,290 per ounce, All Pakistan Sarafa Gems and Jewelers Association said.
The fresh drop brought down the local gold prices by Rs5,000 and Rs3,930, pushing the precious metal to trade at Rs351,000 per tola and Rs275,857 per 10 grams, respectively, it said. Domestic and international silver markets saw drop in value. The white metal fell by Rs68 to Rs3,782 per tola and Rs58 to Rs3242 per 10 grams. Silver was selling at $36 on global front, the association added.
It is worth noting that the open market may trade gold and silver at different prices as compared to those fixed by the association.
Copyright Business Recorder, 2025