The price of gold in Pakistan recorded a major drop on Friday after global rates fell sharply, creating a noticeable shift in the bullion market.

According to the All Pakistan Sarafa Gems and Jewellers Association, the price of 24-karat gold declined by Rs3,300 per tola. With this decrease, gold now sells at Rs439,762 per tola in the local market.

Prices of 10 grams of 24-karat gold also fell. The rate dropped by Rs2,829 and settled at Rs377,025. Meanwhile, 10 grams of 22-karat gold were priced at Rs345,618, down by Rs2,594 from the previous day.

This sudden decline has surprised both buyers and investors, especially after several days of fluctuation in international rates.

In the global market, gold fell by $33 per ounce. The new price stands at $4,174 per ounce. Experts say the dip reflects stronger global currencies and cautious investor sentiment. Analysts believe investors are shifting toward safer short-term assets due to uncertainty in financial markets.

The bearish trend in gold also impacted silver prices. The price of 24-karat silver per tola dropped by Rs140, bringing it down to Rs5,522. Prices for 10 grams of silver settled at Rs4,734.

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Bullion traders say the decline may be temporary, depending on global currency movements and upcoming market data. However, buyers in Pakistan welcomed the drop as an opportunity to purchase gold at a lower cost.

Market watchers expect more volatility in the coming days, especially if global interest rates or currency positions shift again. Jewelers advise consumers to stay updated, as prices may fluctuate before settling into a new trend.