Gold prices declined in Pakistan on the last trading day of the business week, bringing the price of one tola to Rs439,036.
According to the All Pakistan Sarafa Gems and Jewellers Association, the price of gold fell by Rs1,600 per tola. Similarly, the price of 10 grams of gold decreased by Rs1,372 to Rs376,402.
Gold prices also declined in the international market. The association reported that the global price of gold fell by $16 to $4,165 per ounce.
Fluctuations in international gold prices influence local rates in Pakistan. However, domestic prices are also affected by changes in the value of the rupee and other market factors.
Investors, bullion traders and consumers purchasing jewellery closely monitor changes in gold prices. The latest decline may offer some relief to buyers, although future price movements will depend on developments in the international market and domestic economic conditions.
