Gold prices in Pakistan continued to fall in line with their decrease in the international market. In the local market on Thursday, gold price per tola reached Rs335,200 after it shed Rs6,700 during the day.
As per the All-Pakistan Gems and Jewellers Sarafa Association (APGJSA),10-gram gold was sold at Rs287,379, after it decreased Rs5,745.
On Wednesday, gold price per tola reached Rs341,900 after it shed Rs2,300 during the day.
The international rate of gold also declined on Thursday. The rate was at $3,168 per ounce (with a premium of $20), a drop of $67, as per APGJSA.
Meanwhile, silver price per tola also decreased by Rs105 to settle at Rs3,377.
Gold prices hit an over one-month low on Thursday as investors await a key U.S. inflation print for cues on the Federal Reserve’s monetary policy path, while thawing U.S.-China trade tensions also weighed on bullion’s appeal.
Spot gold was down 1.3% to $3,136.97 an ounce as of 0536 GMT, after hitting its lowest level since April 10 earlier in the session.
U.S. gold futures fell 1.5% to $3,140.00.
The U.S. and China agreed to reduce tariffs drastically and adopted a 90-day pause, de-escalating a potentially damaging trade war between the world’s two largest economies.
