Gold prices in Pakistan continued their downward trend on Thursday, reflecting a similar movement in the international bullion market. According to the All-Pakistan Gems and Jewellers Sarafa Association (APGJSA), the price of gold per tola fell by Rs. 1,000, bringing the new rate to Rs. 418,862. Likewise, the price of 10 grams of gold dropped by Rs. 857 and settled at Rs. 359,106. This comes just a day after a sharp increase of Rs. 3,500 per tola, when domestic gold rates had climbed to Rs. 419,862.
The decline in the local market aligns with the dip seen internationally. APGJSA reported the global gold price at $3,965 per ounce—down $10 from the previous trading session—while noting this rate also includes a premium of $20. Despite the fall, silver prices in Pakistan held steady at Rs. 5,034 per tola.
Earlier in the day, international gold prices had briefly strengthened due to a weaker US dollar and the latest interest rate reduction by the US Federal Reserve. However, trading optimism fueled by progress in US-China trade discussions limited additional upward movement in bullion. At 05:29 GMT, spot gold was trading 0.6% higher at $3,953.04 per ounce, while US gold futures for December slipped 0.9% to $3,964.50 per ounce.
Read more: Gold Prices Plunge Sharply Across Pakistan
