Gold price declined by Rs800 per tola in Pakistan

Prices for gold and silver slipped in both the global and local markets on Thursday. At the global bullion market, the price of gold decreased by $8 for per ounce to $4,832.

Pakistan also witnessed a drop in gold prices due to the downfall in the international market. According to All Pakistan Gems and Jewelers, the price of gold in Pakistan per tola dropped by Rs800 to Rs505,562, whereas the price of 10 grams of gold dropped by Rs686 to Rs433,437.

Silver rates also lowered slightly. The price of silver per tola was down by Rs30 to Rs9,903, and the price of 10 grams of silver is down by Rs25 to Rs8,490.

Spot gold prices remained flat at $4,836.09 an ounce at 0740 GMT after touching a historic high of $4,887.82 in the last trading session.

US gold futures for February delivery were also flat at $4,838.60 per ounce.

Spot silver increased by 1.1% to $94.26 an ounce, following a record high of $95.87 recorded on Tuesday.

Spot platinum declined 0.4% to $2,472.33 an ounce after hitting a new record high of $2,511.80 on Wednesday, while palladium rose 0.6% to $1.