Gold prices drop in Pakistan

Gold rates, gold rates in Pakistan, Gold prices

KARACHI: The gold rates declined in Pakistan as per tola price slashed by Rs500 in the local market, ARY News reported on Friday.

The gold prices recorded a decrease of Rs500 per tola to settle at Rs220,500 in the domestic market, according to the All Sindh Sarafa Jewellers Association.

The price of 10 grams of 24-karat gold also registered a decrease of Rs429 and was sold at Rs189,043.

In the international market, the yellow metal rate was increased by $4 to $2060.

Gold prices were set to mark a third straight weekly jump after data showing cooling inflation cemented bets for a rate cut in the United States, with traders looking forward to comments from Federal Reserve Chair Powell later in the day.

Spot gold rose 0.2% to $2,039.00 per ounce by 0812 GMT on Friday, up about 2% for the week so far. The metal rose $60 in November in its second straight monthly gain.

Spot silver fell 0.1% to $25.22. Platinum rose 0.2% to $929.01 per ounce, while palladium was up 0.3% to $1,010.49.

Leave a Comment