Pakistan Gold Price Drops to Rs426,736 as International Prices Fall

The gold price in Pakistan dropped on Friday, reversing the previous session's gains as domestic bullion markets tracked a decline in international prices. According to Saraffa market rates, the price of 24-karat gold decreased by Rs3,700 per tola, settling at Rs426,736.

Internationally, gold prices fell by $37 per ounce to $4,043, with a $20 premium applied. This weakness in global bullion prices weighed on local rates, resulting in lower prices across Pakistan's major jewellery markets.

In Lahore, 24-karat gold was quoted at Rs430,000 for selling and Rs429,500 for buying, while 22-karat gold stood at Rs394,166 per tola. In Karachi, the 24-karat gold selling rate was reported at Rs429,000 per tola.

Local bullion traders in Lahore pointed out that the price of 999 Tezabi silver was at Rs6,250 per tola, while a 1-kilogram silver bar was quoted at Rs6,300 and a 10-tola silver piece at Rs6,350.