Gold prices in Pakistan experienced a steep decline on Friday, falling by Rs. 5,100 per tola to reach Rs. 420,536 following a drop in global rates below $4,000 per ounce.
Rates released by the All-Pakistan Gems and Jewellers Sarafa Association (APGJSA) showed that 10 grams of 24-karat gold decreased by Rs. 4,373 to settle at Rs. 360,541.
Silver prices also decreased, with the cost per tola dropping by Rs. 238 to touch Rs. 5,530.
Meanwhile, cryptocurrency firm Binance announced that more than $6 billion vanished in a suspected hacking incident, with additional information promised as events unfold.
Gold Ends Two-Day Run
Friday's drop followed a stable rate of Rs. 425,636 per tola on Thursday, which came after a gain of Rs. 3,500 per tola the previous day.
Following this latest reduction, gold sits Rs. 21,500 lower than its record peak of Rs. 442,036 per tola reached on October 10.
Global Gold Falls Below $4,000
Domestic rates mirrored international movements, as the global price dropped by $51 to reach $3,980 per ounce, losing the $4,000 threshold maintained since Wednesday.
