Gold prices drop in Pakistan

After hitting record highs, the gold prices in Pakistan on Thursday declined despite an increase in the international market.

In the local market, the price of gold per tola decreased Rs2,200 to Rs261,500.

The 10-gram gold was sold at Rs224,194 after it registered a decrease of Rs1,886, according to rates shared by the All-Pakistan Gems and Jewellers Sarafa Association (APGJSA).

On the other hand, silver prices remained unchanged in the domestic market, with 24-karat silver being sold at Rs2,950 per tola and Rs2,529 per 10-gram.

Globally, spot gold traded near $2,518 an ounce, up $9.9 or 0.39% from the previous session.

U.S. gold futures settled 1.3% lower at $2,343.

Platinum rose above the key level of $1,000 per ounce to a near one-year high. It was up 0.6% at $1,000.55 per ounce.