The price of gold in Pakistan fell for the second consecutive day on Friday, following a seven-day record-breaking surge that saw prices exceed Rs. 285,000 per tola on Wednesday. According to the All-Pakistan Gems and Jewellers Sarafa Association (APGJSA), the price of 24-carat gold decreased by Rs. 800 per tola, settling at Rs. 282,300. Meanwhile, the price for 10 grams of gold dropped by Rs. 686, reaching Rs. 242,027.

The precious metal’s price had stood at Rs. 275,000 per tola on October 15, before rising by over Rs. 10,000 in the following seven sessions to a record high of Rs. 285,400 on October 23. Since then, the price has declined by Rs. 3,100 per tola.

In the international market, spot gold decreased by $8, trading at $2,726 per ounce on Friday. This is nearly $30 below the record high of $2,758.37 reached on Wednesday.