Gold prices in Pakistan fell on Thursday following losses in the international market. The price of gold per tola dropped by Rs1,700, reaching Rs441,462 during the day.
Similarly, 10-gram gold was sold at Rs378,482 after a decline of Rs1,457, according to the All-Pakistan Gems and Jewellers Sarafa Association (APGJSA). On Wednesday, gold had already fallen by Rs2,700 per tola to Rs444,162.
Read more: Gold price drops by Rs 1,000 per tola
The international gold rate also fell by $17, reaching $4,191 per ounce with a $20 premium. Spot gold slipped 0.5% to $4,179.71 per ounce, while U.S. December gold futures dropped 0.5% to $4,210.20 per ounce.
The price of silver in Pakistan also declined by Rs85, reaching Rs6,000 per tola. Analysts said the drop came as investors booked profits and awaited cues from next week’s U.S. Federal Reserve meeting on interest rates.
Read more: Gold prices drop after days of market stability
Global market caution ahead of the Fed meeting, combined with local demand patterns, continues to influence precious metal prices in Pakistan.