Gold prices drop in Pakistan after reaching record high

After hitting a record high in the previous session, gold prices in Pakistan dipped on Friday, following a similar trend in the international market.

According to the All-Pakistan Gems and Jewellers Sarafa Association (APGJSA), the price of gold per tola fell by Rs2,000, bringing it down to Rs318,800. The 10-gram gold price also slipped by Rs1,712, settling at Rs273,319.

This comes a day after gold prices surged by Rs1,800 to reach an all-time high of Rs320,800 per tola on Thursday.

Globally, gold prices also saw a dip on Friday. APGJSA reported the international rate at $3,031 per ounce (including a $20 premium), reflecting a decrease of $19 during the day.

Meanwhile, silver prices in Pakistan also declined, dropping by Rs49 to trade at Rs3,475 per tola.