Gold prices recorded a sharp decline in both local and international markets on Friday, with price of gold per tola fell by Rs21,400 and sold at Rs507,762.

Similarly, 10-gram gold was sold at Rs435,324 after it fell by Rs18,347, according to rates shared by the All-Pakistan Gems and Jewellers Sarafa Association (APGJSA)..

In the international market, gold prices also witnessed a significant fall, declining by $214 to $4,850 per ounce.

Experts attribute the downward trend to global economic pressures, fluctuations in the US dollar, and changing investor sentiment, which have collectively impacted gold prices worldwide as well as in the local market.