Gold prices in Pakistan fell on Friday, mirroring a decline in the international market, with the yellow metal losing Rs1,000 per tola in the local trade. According to data released by the All-Pakistan Gems and Jewellers Sarafa Association (APGJSA), the price of gold stood at Rs395,800 per tola. The rate for 10 grams was recorded at Rs339,334, down by Rs858. A day earlier, the price of gold had dropped by Rs2,000 to settle at Rs396,800 per tola. In the global market, gold prices slipped as stronger-than-expected US economic data raised doubts about the Federal Reserve’s interest rate cut outlook, strengthening the dollar ahead of a key inflation report. Spot gold declined 0.2% to $3,741.21 per ounce as of 0147 GMT, though it remained up 1.6% for the week. US gold futures for December delivery held steady at $3,771.30. Meanwhile, silver prices in Pakistan moved higher, gaining Rs64 per tola to reach Rs4,499.
Gold prices drop in Pakistan following global market downturn
