Precious metal rates dropped sharply across Pakistan on Friday, as 24-karat gold lost Rs. 7,000 per tola to trade at Rs. 424,536 domestically, according to market figures.

Data released by the All-Pakistan Gems and Jewellers Sarafa Association (APGJSA) showed that 10 grams of gold dropped by Rs. 6,001, settling at Rs. 363,971.

This downward trend came on the heels of a $70 decrease in global bullion rates, bringing international prices down to $4,020 per ounce.

Domestic markets previously saw a Rs. 3,000 decrease on Thursday, when per tola rates were recorded at Rs. 431,536.

Meanwhile, silver also experienced a downward shift, dropping by Rs. 221 to close at Rs. 5,865 per tola.