Gold prices witnessed a significant decline in local markets on Friday, falling below the Rs. 440,000 per tola mark after international bullion rates recorded a sharp drop during the trading session.

 According to the All Pakistan Sarafa Gems and Jewelers Association, the price of 24-karat gold per tola decreased by Rs. 14,900 to settle at Rs. 438,036.

Similarly, the price of 10 grams of gold fell by Rs. 13,410, bringing the new rate down to Rs. 374,205.

The decline in domestic prices followed a major correction in the international market, where gold prices dropped by $149 per ounce to settle at $4,156.

 Market experts said the latest downturn reflects changing investor sentiment in global markets, with traders adjusting positions amid shifting expectations regarding economic conditions and monetary policy.

Silver prices also moved lower alongside gold. The price of silver per tola fell by Rs. 413 to settle at Rs. 6,946.

Bullion dealers noted that local gold prices in Pakistan are directly influenced by fluctuations in international markets and movements in the rupee-dollar exchange rate.

Analysts expect gold prices to remain volatile in the coming days as investors closely monitor global economic developments.