Gold rate in local market declines by Rs1,400 to Rs213,800 per tola

In a noteworthy development, gold prices in Pakistan experienced a decline on Thursday, with the tola rate of 24 karat gold decreasing by Rs1,400.

The current per-tola gold price in Pakistan now stands at Rs213,800 in local bullion market.

According to market insiders, the price for 10 grammes of 24 karat gold witnessed a reduction of Rs1,200, reaching Rs183,300 in the domestic market, as reported by the All Sindh Sarafa Jewellers Association.

Simultaneously, the prices of both per tola and 10-gramme silver saw a reduction, falling by Rs1200 to Rs183,300.

Meanwhile, in the international market, the price of gold exhibited a rise of $12, reaching $2035. Gold prices, on the whole, experienced a 0.2 per cent increase to $2,018 per ounce, hitting a session low of $2,013.

This came after a 0.75 per cent decrease on Wednesday, marking a one-week trough at $2,011, spurred by robust US economic data. The market dynamics are being closely observed for further insights into these fluctuations.