After increasing in the previous session, gold prices in Pakistan registered losses on Thursday in line with their decrease in the international rate. In the local market, gold price per tola stood at Rs275,200 after a single-day decrease of Rs700.
The 10-gram gold was sold at Rs235,940 after it registered a decrease of Rs600, according to rates shared by the All-Pakistan Gems and Jewellers Sarafa Association (APGJSA).
On Wednesday, gold price per tola had increased by Rs1,600 in Pakistan.
The international rate of gold decreased on Thursday. As per APGJSA, the rate was at $2,640 per ounce (with a premium of $20) after it lost $7 during the day.
On the other hand, silver rates remained unchanged at Rs3,400 per tola.
Globally, gold prices slipped on Thursday as the US dollar strengthened, while investors assessed a flurry of economic data showing stalled inflation progress, suggesting the Federal Reserve might tread cautiously on further interest rate cuts.
Source: Brecorder
