Gold prices in Pakistan fell by Rs2,000 per tola on Thursday, following a similar drop in the international market. According to the All-Pakistan Gems and Jewellers Sarafa Association (APGJSA), the local gold price reached Rs396,800 per tola. Meanwhile, 10-gram gold declined by Rs1,714 to Rs340,192.
On Wednesday, gold prices remained steady at Rs398,800 per tola. Internationally, gold lost $20, trading at $3,750 per ounce with a $20 premium, according to APGJSA data. However, silver prices in Pakistan rose by Rs26 per tola, reaching Rs4,663.
Global gold prices steadied on Thursday as investors awaited key US economic data for clues on Federal Reserve policies. Spot gold was steady at $3,734.04 per ounce, while US December gold futures remained unchanged at $3,765.20.
The US dollar index fell 0.1%, making gold cheaper for foreign buyers. This slight weakening of the greenback provided some support to the bullion market.