Gold prices continued the downward trend for the third consecutive day on Friday in Pakistan as the price of per tola gold further dropped by Rs 2000.
As per the data shared by the All-Pakistan Sarafa Gems and Jewellers Association, the price of 24-karat gold per tola fell by Rs. 2,000, settling at Rs. 431,862.
Similarly, the price of 10 grams of 24-karat gold dropped by Rs 1,714 to Rs 370,252, and the prices of 10 grams of 22-karat gold declined by Rs 1,571 to Rs 339,410.
The international rate was reported at $4,095 per ounce (including a $20 premium), marking a $20 loss for the day.
Silver prices in the local market declined as well, with the per tola rate dropping by Rs. 43 to Rs. 5,067.
Internationally, gold prices eased on Friday and were on track for their first weekly drop in ten weeks, pressured by a stronger dollar and cautious trading ahead of a key U.S. inflation report.
Spot gold was down 0.2% at $4,118.68 per ounce as of 0315 GMT, with bullion falling 3% so far this week, its biggest weekly percentage drop since mid-May. U.S. gold futures for December delivery slipped 0.3% to $4,133.40 per ounce.
