Gold prices fell sharply in the local market on Thursday after a decline in international rates.
According to the All Pakistan Gems and Jewelers Association, the price of gold per tola dropped by Rs 900, bringing it down to Rs 454,862. Similarly, the price of 10 grams of gold decreased by Rs 772 to Rs 389,970.
The Sarafa Association reported that gold prices in the global market also declined by $9, settling at $4,325 per ounce.
The latest drop comes a day after gold prices had surged. On Wednesday, the price of gold had increased by Rs 2,200 per tola, pushing it up to Rs 455,762.
Market analysts say fluctuations in global prices continue to directly impact local gold rates, keeping investors and buyers cautious.
Meanwhile, positive momentum persisted at the Pakistan Stock Exchange (PSX) on Friday as bullish sentiment remained dominant, pushing share prices higher in early trading.
During the first half of the session, the benchmark KSE-100 Index advanced by more than 400 points, reflecting continued investor confidence. By 12pm (Friday break), the index was trading at 172,379.98, up by 419.34 points compared to the previous close.
Market participants attributed the upward trend to active buying in key sectors, as investors responded to improving economic indicators and expectations of stability. The steady gains highlighted a strong start to the day, with optimism prevailing across the trading floor.
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