Gold prices in Pakistan decreased on Friday in line with their loss in the international market. In the local market, gold price per tola reached Rs395,800 after a decline of Rs1,000 during the day.
As per the rates shared by the All-Pakistan Gems and Jewellers Sarafa Association (APGJSA), 10-gram gold was sold at Rs339,334 after it lost Rs858.
On Thursday, gold price per tola reached Rs396,800 after a decline of Rs2,000 during the day.
The international rate of gold also saw a decrease today. The rate was at $3,740 per ounce (with a premium of $20), a loss of $10, as per APGJSA.
However, silver price per tola increased by Rs64 to reach Rs4,499.
Meanwhile, international gold edged lower on Friday after stronger-than-expected U.S. economic data cast doubt on the Federal Reserve’s rate cut outlook, bolstering the dollar ahead of a key U.S. inflation report due later in the day.
Spot gold declined 0.2% to $3,741.21 per ounce as of 0147 GMT, though the metal was up 1.6% so far this week.
U.S. gold futures for December delivery were unchanged at $3,771.30. The U.S. dollar index hovered near a three-week high, making greenback-priced bullion more expensive for overseas buyers.