Gold prices fell by Rs5,100 per tola in the local market on Friday, tracking a significant decline in international bullion rates. According to the All Pakistan Sarafa Gems and Jewellers Association, the price of 24-karat gold dropped to reach Rs420,536 per tola after the downward market correction.

Similarly, the market value of 10-gram gold witnessed a notable decrease of Rs4,373, settling at Rs360,541 across various trading platforms in the country. In the international market, yellow metal rates decreased by $51, bringing the global ounce rate down to $3,980 per ounce at the close of business.

Market insiders note that local bullion prices are systematically adjusted with a standard premium of $20 against prevailing international market rates. This downward trend was not limited to gold alone, as silver prices also registered a downward correction during the same trading session.

The rate for silver per tola dropped by Rs238, bringing the precious white metal down to Rs5,530 in major commercial centers. Meanwhile, the price for 10-gram silver fell by Rs4,741 after registering an immediate decrease of Rs204 in the retail market.

Financial analysts attribute this sudden fluctuation to shifting global economic indicators and cautious investor sentiment across major commodities. Jewellery traders and investors are closely monitoring international trends to anticipate subsequent market movements in the upcoming business week.