Gold prices declined in both international and local bullion markets on Friday, continuing a downward trend driven by developments in global trading.
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In the international bullion market, the price of gold fell by $14 per ounce. As a result, the precious metal settled at $4,453 per ounce.
The decline in global prices also affected the domestic market. Consequently, gold rates in Pakistan moved lower during trading sessions on Friday.
According to market data, the price of gold per tola dropped by Rs1,469, bringing the new rate to Rs467,816.
Likewise, the price of 10 grams of gold decreased by Rs1,197. The new rate for 10 grams settled at Rs401,012.
Silver Prices Also Move Lower
Silver prices followed a similar trend in the local market.
The price of silver per tola declined by Rs67 and settled at Rs7,730.
Traders noted that movements in international bullion markets often influence local precious metal prices. Therefore, changes in global demand and investor sentiment can directly impact domestic rates.
Global Factors Influence Bullion Markets
Market analysts linked the latest decline to fluctuations in international demand and broader economic indicators.
In addition, investors continue to monitor global inflation trends, interest rate expectations, and economic data that affect the appeal of precious metals.
As a result, gold and silver prices remain sensitive to developments in international financial markets. Analysts expect bullion rates to continue responding to changes in global economic conditions and investor behavior in the coming days.
