Gold prices in Pakistan decreased on Friday in line with their loss in the international market. In the local market, gold price per tola reached Rs387,500 after a decline of Rs1,100 during the day.
As per the rates shared by the All-Pakistan Gems and Jewellers Sarafa Association (APGJSA), 10-gram gold was sold at Rs332,218 after it lost Rs943.
On Thursday, gold price per tola was unchanged at Rs388,600.
The international rate of gold also saw a decrease today. The rate was at $3,657 per ounce (with a premium of $20), a loss of $11, as per APGJSA.
However, silver price per tola increased by Rs29 to reach Rs4,447.
Moreover, international gold prices were flat on Friday as the Federal Reserve’s 25-basis-point rate cut and the outlook on further easing in the months ahead failed to meet the investors’ dovish expectations, while markets awaited more cues into U.S. policy path.
Spot gold was little changed at $3,646.23 per ounce as of 0311 GMT. Bullion had hit a record high of $3,707.40 on Wednesday.
U.S. gold futures for December delivery were also flat at $3,678.90.
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