Gold prices in Pakistan fell on Friday in tandem with a downturn in the international market, according to the All-Pakistan Gems and Jewellers Sarafa Association (APGJSA).

In the local market, the price of gold per tola dropped by Rs4,578 to settle at Rs420,600, while the rate for 10 grams declined by Rs3,924 to Rs360,597.

On Thursday, the price per tola had remained steady at Rs425,178.

Internationally, gold also lost value, trading at $3,995 per ounce (including a $20 premium), down $44 for the day, APGJSA said.

However, silver continued its upward trend, gaining Rs34 per tola to reach a new all-time high of Rs5,100.

In global trade, spot gold slipped 0.1% to $3,971.43 per ounce by 0514 GMT but remained up 2.2% for the week, poised for an eighth consecutive weekly gain.

US gold futures for December delivery edged up 0.3% to $3,985.80, while silver rose 0.9% to $49.55 per ounce, easing from Thursday’s record high of $51.22.