KARACHI: Gold prices in Pakistan declined on Friday, June 5, with the price of 24-karat gold falling by Rs1,469 per tola in line with a downturn in international bullion markets.
According to market data, the price of gold in the global market dropped by $14 per ounce, bringing the international rate to $4,453 per ounce. The decline was reflected in local markets, where gold prices also moved lower.
The latest decline follows a sharp rebound on June 4, when gold prices rose by Rs1,523 per tola after a previous day’s fall, highlighting the continued volatility in local and international bullion markets.
Gold rebounds on June 4, gains Rs1,523 per tola after previous day’s decline
Following Friday’s adjustment, the price of gold in Pakistan settled at Rs467,816 per tola.
Similarly, the price of 10 grams of gold decreased by Rs1,197 to Rs401,012.
Silver prices also decline
Silver prices also recorded losses in the domestic market.
The price of silver fell by Rs67 per tola, bringing the rate down to Rs7,730 per tola.
Global market trend impacts local rates
Market analysts said fluctuations in international demand, investor sentiment and broader economic indicators continue to influence movements in bullion prices worldwide.
Gold prices in Pakistan generally follow international market trends, with local rates also affected by currency movements and changes in global commodity markets.
The latest decline partially offsets the gains recorded a day earlier and reflects the ongoing uncertainty in global bullion trading.
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