Gold price drops in Pakistan 

Karachi: The gold rate in Pakistan today on Friday dropped by Rs50 per tola as the bullion price settled at Rs126,100. It has decreased by Rs150 in the past two days.

According to the All Sindh Sarrafa and Jewelers Association, the rates went down by Rs50 per tola to Rs126,100 per tola and dropped by Rs43 per 10 grams to Rs108,110 per 10 grams compared to Thursday's prices.

In the international market 24k-gold dropped by $10 per ounce and is being sold at $1,791.

The reports said that the rate of 10 grams of gold has decreased by Rs43 and it was sold at Rs108,110 on January 5.

Silver Price

Meanwhile, the Silver rate changed after 45 days in the local market and it dropped by Rs10 per tola and Rs8.57 per 10 gram.

Silver is now being sold at Rs1,450 per tola and Rs1,243.14 per 10 grams.

On Thursday, the gold price decreased by Rs100 per tola to Rs126,150 in Pakistan. The precious commodity lost Rs100 per tola and Rs86 per 10 grams — the exact same gains recorded a day earlier — to settle at Rs126,150 per tola and Rs108,153 per 10 grams, respectively.

The international gold price receded by $19 to close at $1,801 today, as minutes of the US Federal Reserve's December meeting signalled quicker increases to interest rates, boosting the dollar and Treasury yields.

Silver prices in the domestic market remained unchanged today at Rs1,460 per tola and Rs1,251.71 per 10 grams.

On Wednesday, the gold price increased by Rs100 per tola to Rs126,250 in Pakistan. It has increased by Rs200 in the past two days.

In the international market, 24k-gold surged by $17 per ounce to settle at $1,820, according to the rates compiled by All Sindh Sarrafa and Jewelers Association.

The precious commodity remained extremely volatile in the global markets amid the Omicron outbreak. It recorded a sharp drop of $22 on January 4.

Meanwhile, silver price in the domestic market remained unchanged at Rs1,460 per tola and Rs1,251.71 per 10 grams.