Gold prices in Pakistan recorded a sharp decline on Friday, dropping by more than Rs21,000 per tola in line with a major slump in international markets.
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According to the All Pakistan Gems and Jewellers Association, the price of gold fell by Rs21,400 per tola, bringing the new rate to Rs507,762.
The price of 10 grams of gold also witnessed a steep fall, declining by Rs18,347 to settle at Rs435,324.
In the international market, gold prices slid by $214 to close at $4,850 per ounce, dealers said, citing weaker global demand and market volatility as key factors behind the downturn.
Market participants said local prices mirrored the global slide, with investors closely watching international trends for further direction.
