Gold slips below Rs421,000 per tola; silver hits record high

Gold prices in Pakistan declined on Friday, mirroring a downturn in the international market.

According to the All-Pakistan Gems and Jewellers Sarafa Association (APGJSA), the price of gold fell by Rs4,578 per tola to settle at Rs420,600.

Similarly, the rate for 10 grams of gold dropped by Rs3,924, closing at Rs360,597. A day earlier, the precious metal had remained stable at Rs425,178 per tola.

In the international market, gold prices also decreased, with the rate recorded at $3,995 per ounce — down $44 — including a $20 premium, as per APGJSA data.

Spot gold slipped 0.1% to $3,971.43 per ounce by 0514 GMT but remained up 2.2% for the week, poised for an eighth consecutive weekly gain amid persistent geopolitical and economic concerns and rising expectations of further US rate cuts.

Meanwhile, US gold futures for December delivery rose 0.3% to $3,985.8 per ounce.

In contrast, silver prices in Pakistan climbed to an all-time high. The price per tola increased by Rs34 to reach Rs5,100. On the international front, silver rose 0.9% to $49.55 per ounce, easing from Thursday’s record high of $51.22.