Gold rates continued to fall on Friday

KARACHI: The decline in gold prices persisted on Friday, while the prices of precious metals dropped by Rs1,450 per tola in the local market.

The cost of gold fell by more than 8 per cent in a month, as buyers are moving away from the safe bet product with COVID-19 fear subsidizing, as per traders.

Gold prices continue to decline

The declining pattern also stems from the foreign market, where the cost of gold dropped to $1,696 per ounce from $1,814 on March 5. On the local market, gold prices decreased by 8.1 per cent or Rs9.050 to Rs102.750 per tola from Rs111.800 per tola on 5 March.

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