Gold falls Rs5,600 per tola, silver also declines

Gold prices in Pakistan slipped on Friday, according to Mettis Link News. The 24-karat variety changed hands at Rs456,736 per tola after a drop of Rs5,600. Per 10 grams, the same metal was priced at Rs391,577, down Rs4,801, based on figures released by the All-Pakistan Gems and Jewelers Sarafa Association (APGJSA). The 22-karat grade also eased, quoted at Rs358,958 per 10 grams, which was Rs4,401 lower.

Silver also weakened in the domestic market, with 24-karat silver selling at Rs6,871 per tola, Rs253 less, and Rs5,890 per 10 grams, Rs217 lower. Internationally, gold rose 0.2 per cent to $4,324.79 an ounce on Friday. Even so, the metal was set for a third consecutive weekly fall, weighed down by growing expectations that the US would raise interest rates.