KEY POINTS
- 24-karat gold drops to Rs 441,462 per tola, tracking international decline (All-Pakistan Gems and Jewellers Sarafa Association)
- 10-gram gold falls to Rs 378,482 after a Rs 1,457 drop (APGJSA)
- International spot gold down 0.5% at $4,179.71 per ounce, futures also lower (Reuters)
- Silver price eases to Rs 6,000 per tola (APGJSA)
ISLAMABAD: Gold prices in Pakistan declined on Thursday, as local markets reflected losses in global bullion rates amid profit-taking and investor caution ahead of the upcoming US Federal Reserve meeting.
According to the All-Pakistan Gems and Jewellers Sarafa Association, local 24-karat gold closed at Rs 441,462 per tola, down Rs 1,700 from the previous session, while 10-gram gold fell by Rs 1,457 to Rs 378,482 (APGJSA). Silver also softened, settling at Rs 6,000 per tola.
Internationally, spot gold slipped roughly 0.5% to $4,179.71 per ounce, while US December gold futures also declined.
Meanwhile, investors awaited guidance from the Federal Reserve on interest rate policy, Reuters reported. The international gold rate fell by $17 to $4,191 per ounce, with a $20 premium (APGJSA).
Local jewellers attributed the decline to weaker global cues, profit-taking, and currency fluctuations that affected domestic pricing.
Analysts noted that market caution is likely to persist until the Fed provides clarity on future rate decisions.
With global uncertainty ahead of US monetary policy announcements, domestic gold trade is expected to remain volatile.
Buyers may approach the market cautiously, while traders monitor international signals for directional cues,
