The price of gold has witnessed a significant reduction for the forth consecutive day in local markets on Friday.
Locally, the price of 24-carat gold per tola dropped by Rs2,500, bringing the price to Rs300,500
In addition, the price of 10 grams of gold in Pakistan saw a reduction of Rs2,143, bringing the new value to Rs257,639.
In the international bullion market, the price per ounce fell by $24, reaching $2,863.
This decline in gold prices is expected to impact both investors and consumers alike.
Earlier yesterday, gold price has seen a significant drop for the third consecutive day in the domestic market.
The price of gold in the global bullion market has dropped by $29, now standing at $2,887 per ounce.
Meanwhile, in the local markets per tola gold price has decreased by Rs3,300.
According to the All Pakistan Gems and Jewelers Association, after this decrease, the price of gold per tola has reached Rs303,000 in the country.
Similarly, the price of 10 grams of gold has decreased by Rs 2,829, now standing at Rs 259,773.
Spot gold fell 1.2% to $2,880.79 an ounce by 0910 GMT, its lowest since February 17. Prices hit a record peak of $2,956.15 on Monday, driven by safe-haven flows.
US. gold futures lost 0.7% to $2,909.30.
The dollar index rose 0.2% to move further from the recent 11-week lows, making greenback-priced bullion more expensive for other currency holders.
Spot silver retreated 0.7% to $31.62 an ounce, platinum added 0.2% to $967.30 and palladium firmed 0.1% to $927.50.
