The price of gold in Pakistan fell by Rs. 1,000 per tola on Thursday, bringing the new rate to Rs. 418,862 per tola, according to data released by the All Pakistan Gems and Jewellers Association (APGJA).
Similarly, the price of 10 grams of gold declined by Rs. 857, reaching Rs. 359,174. Market analysts attribute the drop to a slight recovery in the Pakistani rupee against the US dollar and a dip in global gold prices, which have been fluctuating amid changing expectations around U.S. interest rates and geopolitical developments.
In the international market, gold was being traded at around $2,375 per ounce, down by $8 from the previous session.
Jewellers say local demand has remained muted as buyers await further adjustments in prices following recent volatility.
