Gold prices decline by Rs2,700 in local market as silver rises
Gold prices on Friday declined in both international and local markets, while silver prices recorded an increase. In the international bullion market, the price of gold per ounce fell by $27 to $4,717.
According to the All-Pakistan Gems and Jewellers Sarafa Association, in the local market, the price of gold per tola declined by Rs2,700 to Rs494,062. The price of 10 grams of gold also decreased by Rs2,315 to Rs423,578.
Meanwhile, the price of silver per tola increased by Rs80 to Rs8,525. The price of 10 grams of silver also rose by Rs68 to Rs7,308.
Spot silver rose 2.3% to $80.31 per ounce, platinum gained 1.5% to $2,051.31, both headed for a weekly gain. Palladium was up 1.5% at $1,503.77, but was on track for a weekly loss of 1.3%.
Read: Gold price rises by Rs7,800 per tola in local market
On Thursday, gold prices surged in global and local markets. According to the All-Pakistan Gems and Jewellers Sarafa Association, the local price of gold per tola increased by Rs7,800 to Rs496,762, while the price of 10 grams of gold rose by Rs6,687 to Rs390,416. Silver prices also increased, with per tola rates rising by Rs373 to Rs8,445 and 10 grams gaining Rs320 to reach Rs7,240.
On Wednesday, the price of gold per tola increased by Rs11,100 to Rs488,962, while the price of 10 grams of gold rose by Rs9,517 to Rs419,206. Silver prices also recorded an upward trend. The price of silver per tola increased by Rs223 to Rs8,072, while the price of 10 grams rose by Rs191 to Rs6,920.
On Tuesday, gold prices per tola declined by Rs2,100 to reach Rs477,862, according to the All-Pakistan Gems and Jewellers Sarafa Association. Similarly, the 10-gram of gold decreased by Rs1,801, settling at Rs409,689. Silver price dropped by Rs65 to Rs7,849 per tola.
On Monday, the price of gold per tola declined by Rs3,800 to Rs479,962, according to the All-Pakistan Gems and Jewellers Sarafa Association. Similarly, the 10-gram gold dropped by Rs3,257 to Rs411,490, reflecting a broader bearish trend. Silver prices also decreased by Rs100 to Rs7,914 per tola.