Gold price falls Rs1,100 per tola in Pakistan

Gold prices in Pakistan fell on Friday following the downward trend in the international market.

According to the All-Pakistan Gems and Jewellers Sarafa Association (APGJSA), the price of gold dropped by Rs1,100 per tola, settling at Rs387,500. The rate for 10 grams also slipped by Rs943, closing at Rs332,218.

A day earlier, the price of gold had remained unchanged at Rs388,600 per tola.

Globally, bullion prices also eased, with gold trading at $3,657 per ounce (including a $20 premium), down $11 from the previous session, APGJSA said.

In contrast, silver prices rose, with the local rate increasing by Rs29 to Rs4,447 per tola.

On the international front, gold steadied as investors assessed the US Federal Reserve’s recent 25 basis point rate cut and weighed expectations for further easing. Markets remained cautious as they awaited clearer signals on the Fed’s policy path.

Spot gold was nearly flat at $3,646.23 per ounce at 0311 GMT, after hitting a record $3,707.40 on Wednesday. Meanwhile, U.S. gold futures for December delivery were steady at $3,678.90.