KEY POINTS
- Domestic gold drops to Rs 426,562 per tola, tracking global decline
- Ten-gram rate settles at Rs 365,708 after Rs 4,286 fall
- International gold eases to $4,042 per ounce with $20 premium
- Silver also weakens, down Rs 93 to Rs 5,329 per tola
ISLAMABAD: Gold prices in Pakistan fell on Thursday, mirroring losses in the international market, as the per-tola rate dropped by Rs 5,000 to settle at Rs 426,562, according to data from the All-Pakistan Gems and Jewellers Sarafa Association.
The domestic ten-gram price registered a decline of Rs 4,286 to reach Rs 365,708. A day earlier, the yellow metal had surged by Rs7,900 per tola to close at Rs431,562. Silver followed the downward trend, slipping Rs93 to Rs5,329 per tola.
In global trade, bullion weakened on account of a stronger US dollar and diminished expectations of a Federal Reserve rate cut in December.
Spot gold was last down 0.1 per cent at $4,077.82 per ounce, and US gold futures for December delivery inched lower to $4,076.50 per ounce.
The international benchmark rate reported for Pakistan’s pricing reference fell by $50 to $4,042 per ounce, inclusive of a $20 premium.
Market participants noted that investors were positioning cautiously ahead of a delayed US jobs report, a key indicator for the Fed’s policy trajectory.
