Gold price per tola declines by Rs 3,400 in Pakistan

Gold prices fell in the international as well as the local markets, whereas the prices of silver rose on Friday.

In the international gold and silver markets, the gold price per ounce fell by $34 to $5,110.

In the local markets, the gold price per tola fell by Rs 3,400 to Rs 533,762, whereas the gold price per 10 grams fell by Rs 2,915 to Rs 457,614.

Meanwhile, the silver prices rose in the local markets. The silver price per tola rose by Rs 104 to Rs 8,914, whereas the silver price per 10 grams rose by Rs 89 to Rs 7,642.

Spot gold was up 0.8 percent at $5,117.27 per ounce, as of 0650 GMT. It has shed about 3 percent this week and is on track to end a four-week winning run due to fading expectations of interest rate cuts and inflation concerns amid a spike in global energy costs.