Gold prices in Pakistan slipped on Thursday, following a similar trend in the global market.
In the local market, the rate for one tola of gold fell to Rs441,462 after dropping by Rs1,700 during the day. The price for 10 grams also went down to Rs378,482, a decrease of Rs1,457, as shared by the All-Pakistan Gems and Jewellers Sarafa Association.
A day earlier, the per tola rate had stood at Rs444,162 after a fall of Rs2,700.
In the international market, gold lost $17 and settled at $4,191 per ounce, which includes a $20 premium. Silver prices in the local market also saw a reduction of Rs85, bringing the rate to Rs6,000 per tola.
Global gold slipped on Thursday as traders took profits and remained careful ahead of next week’s U.S. Federal Reserve meeting. They are waiting for key indicators that might hint at future interest rate moves.
By 0617 GMT, spot gold was down 0.5 percent at $4,179.71 per ounce, while U.S. gold futures for December were also down 0.5 percent at $4,210.20 per ounce.