Gold prices go down in Pakistan

KARACHI: Gold prices in Pakistan declined on Thursday in line with the international rates, according to rates shared by the All-Pakistan Gems and Jewellers Sarafa Association (APGJSA).

In the local market, the price of gold per tola decreased by Rs1,100, clocking in at Rs274,400.

Similarly, 10-gram gold was sold at Rs235,254 after it recorded a loss of Rs943,

On Wednesday, gold price increased by Rs600 to settle at Rs275,500.

Meanwhile, silver prices remained stable at Rs3,050 per tola.

Globally, gold prices fell on Thursday as U.S. economic data tempered expectations of an aggressive rate cut in November, while investors awaited the upcoming payrolls report for more clarity on the Federal Reserve’s monetary policy easing plans.

Spot gold was down 0.5% at $2,645.38 per ounce by 1125 GMT, after hitting a record high of $2,685.42 last week.

U.S. gold futures shed 0.2% to $2,665.70 .