Gold prices in Pakistan fell on Friday, mirroring a decline in international bullion markets even as heightened geopolitical tensions in the Middle East continued to fuel uncertainty among investors.
According to the All Pakistan Sarafa Gems and Jewellers Association (APSGJA), the price of 24-karat gold per tola dropped by Rs1,400 to Rs432,436. The price of 10 grams of 24-karat gold declined by Rs1,200 to Rs370,744, while 10 grams of 22-karat gold fell by Rs1,100 to Rs339,861.
In international trade, gold lost $14 to settle at $4,100 per ounce. Silver, however, moved in the opposite direction. The price of silver per tola rose by Rs11 to Rs6,432, while 10 grams gained Rs10 to reach Rs5,514. In the global market, silver advanced by $0.11 to $59.53 per ounce, according to the association.
Bullion markets have experienced heightened volatility in recent sessions as investors reacted to escalating tensions in the Middle East. Market sentiment remained fragile after the United States carried out fresh strikes on Iran in an effort to keep the Strait of Hormuz open for commercial shipping. The confrontation subsequently led to Iranian attacks on Kuwait and Bahrain, intensifying concerns over regional stability.