Gold declines in local, global markets; silver edges higher

Gold prices in Pakistan fell on Thursday, mirroring a decline in the international market.

According to the All-Pakistan Gems and Jewellers Sarafa Association (APGJSA), the price of gold dropped by Rs2,000 per tola, reaching Rs396,800. The price of 10 grams declined by Rs1,714 to settle at Rs340,192. A day earlier, gold rates had remained unchanged at Rs398,800 per tola.

International gold prices also saw a downward trend, falling by $20 to $3,750 per ounce (including a $20 premium), as reported by APGJSA.

In contrast, silver prices rose, with the per tola rate increasing by Rs26 to Rs4,663.

On the global market, bullion prices were largely steady as investors awaited key US economic data for further signals on Federal Reserve policy. Spot gold was stable at $3,734.04 per ounce as of 0202 GMT, while US gold futures for December delivery held at $3,765.20.

The US dollar index slipped 0.1%, making dollar-denominated gold slightly more affordable for international buyers.