Gold prices in Pakistan fall as global bullion market weakens

KARACHI: Gold prices in Pakistan fell sharply on Friday, with the price per tola plunging by Rs14,900 in the domestic bullion market, tracking movements in international prices and a stronger local currency. Following the decline, the price of one tola (11.66 grams) of 24-karat gold dropped to Rs438,036 from the previous close. The All Pakistan Gems and Jewellers Association (APGJA) said the price of 10 grams of 24-karat gold also fell by Rs13,410 to Rs374,205. Market participants said the decline reflected a softer global bullion market along with stability in the Pakistani rupee against the US dollar, which reduced demand for safe-haven assets. Silver prices remained largely stable with only minor fluctuations, traders said. The post Gold prices in Pakistan fall as global bullion market weakens appeared first on HUM News English.