Gold prices retreated across Pakistan's bullion markets on Friday, reversing recent gains, while silver registered a slight increase, according to jewellers and the All Pakistan Sarafa Gems and Jewellers Association.
Gold and Silver Price Movements
The price of 24-karat gold declined by Rs1,400 per tola, bringing it down to Rs432,436. Similarly, the price of 10 grams of 24-karat gold fell by Rs1,200, settling at Rs370,744. The drop follows a period of gains in the precious metal.
In contrast, silver prices saw a modest rise. One tola of silver increased by Rs11 to Rs6,432, as reported by the All Pakistan Sarafa Gems and Jewellers Association.
Market Context
The bullion market in Pakistan has been volatile recently, with gold prices fluctuating due to global economic factors and local demand. The latest decline offers some relief to buyers, while the slight uptick in silver indicates mixed trends in precious metals.
Separately, Pakistan has floated another tender for procuring liquefied natural gas (LNG) cargo from the spot market, highlighting ongoing energy procurement efforts.
