Gold prices in Pakistan declined for the fifth consecutive day on Saturday, bringing the cumulative loss over the last five sessions to Rs. 17,000 per tola.
The All-Pakistan Gems and Jewellers Sarafa Association (APGJSA) reported that 24-karat gold fell Rs. 2,500 to Rs. 422,036 per tola.
Ten grams of 24-karat gold dropped Rs. 2,144 to Rs. 361,827, while 10 grams of 22-karat gold decreased Rs. 1,966 to Rs. 331,686.
5 Straight Days of Losses
The decline began on Tuesday with a Rs. 3,600 fall per tola, followed by a Rs. 900 dip the next day and a Rs. 3,000 slide on Thursday.
Friday saw the steepest drop, as the price per tola plunged Rs. 7,000 to Rs. 424,536.
Saturday's reduction added to the overall discount.
Gold had been trading at Rs. 439,036 per tola before the streak started and now sits roughly Rs. 20,000 below its monthly peak of Rs. 442,036 recorded on October 10.
Last week, gold prices began closing beneath key local market levels.
International Prices Below $4,000
The local market mirrored the global move, with international gold prices slipping $25 to $3,995 per ounce.
Silver also eased, with the metal falling Rs. 7 to Rs. 5,858 per tola and Rs. 6 to Rs. 5,022 for 10 grams.
This recent slide erased the gains gold achieved in early October when it briefly rose above Rs. 442,000 per tola.
