Gold price in Pakistan falls Rs6,500 per tola

Gold quotations in Pakistan dropped on Friday, with 24-karat metal priced at Rs429,136 per tola, a daily decrease of Rs6,500, Mettis Global reported. The 10-gram rate declined by Rs5,573 to Rs367,914, while 22-karat gold was quoted at Rs337,266 per 10 grams, based on figures from the All-Pakistan Gems and Jewelers Sarafa Association.

Silver also weakened locally: 24-karat rates stood at Rs5,678 per tola and Rs4,867 per 10 grams, down Rs85 and Rs73 respectively. Internationally, spot gold was near $4,075 an ounce, lower by $9.8, or 0.24%, from the prior session; Mettis linked the move to firmer crude oil and expectations of US interest rates staying elevated for longer. The metal was still set for a weekly rise ahead of the US payrolls figures expected later that day.