The price of gold in Pakistan saw a significant decline on Friday, reversing the major gains recorded over the past two days. According to data released by the All-Pakistan Gems and Jewelers Sarafa Association (APGJSA), the price of 24-carat gold dropped by Rs. 5,000 per tola, settling at Rs. 277,800. Similarly, the price of 10 grams of gold fell by Rs. 4,286, reaching Rs. 238,169.

This sharp decline comes after two consecutive days of substantial increases. On Thursday, gold prices rose by Rs. 2,300 per tola, following a surge of Rs. 3,100 per tola on Wednesday.

In the international market, gold prices also experienced a downturn. Spot gold fell by 0.5 percent to $2,668.89 per ounce as of 1104 GMT, while US gold futures dropped by 0.8 percent to $2,689.10 per ounce.