Gold prices in Pakistan fall after previous day’s increase

Gold prices in Pakistan fell by Rs1,600 per tola on Saturday after the precious metal recorded a weekly decline of around 0.7 per cent in the international market.

According to the All Pakistan Gems and Jewellers Association (APGJSA), the price of gold dropped to Rs439,036 per tola at the close of trading.

The decline came a day after gold prices increased by Rs2,800 per tola to Rs440,636 in the local market.

Similarly, the price of 10-gram gold fell by Rs1,372 to Rs376,402.

In the international market, gold prices declined by $16 per ounce to $4,165, recording a weekly decrease of around 0.7 per cent.

Silver prices also fell, with the price per tola declining by Rs81 to Rs6,175. The price of 10-gram silver dropped to Rs5,294.

Market trends suggest that gold prices may remain volatile in the coming week as investors monitor global economic developments, US inflation data, movements in the dollar and expectations regarding interest rates.