Gold prices in Pakistan fell on Thursday, following the downward trend seen in the global market.
In the local market, the price of gold per tola dropped by Rs3,500, bringing it down to Rs433,862. According to the All-Pakistan Gems and Jewellers Sarafa Association (APGJSA), the price of 10 grams of gold declined by Rs3,001, settling at Rs371,966.
A day earlier, on Wednesday, gold prices in the local market had already fallen sharply by Rs7,538 per tola, reaching Rs437,362.
Internationally, gold prices also slipped on Thursday. As per APGJSA, the global rate was recorded at $4,115 per ounce, marking a decrease of $35, with a $20 premium.
Silver prices, however, remained unchanged, holding steady at Rs5,110 per tola.
Meanwhile, global gold prices were slightly weaker as the US dollar strengthened and investors awaited important US inflation data expected later this week, which could influence future interest rate decisions.
As of 0310 GMT, spot gold was down 0.2 percent at $4,084.29 per ounce, while US gold futures for December delivery rose by 0.9 percent to $4,100.90 per ounce.