FILE PHOTO: An employee places ingots of 99.99 percent pure gold in a workroom at the Novosibirsk precious metals refining and manufacturing plant in the Siberian city of Novosibirsk, Russia, September 15, 2023. REUTERS/Alexander Manzyuk/File Photo
Gold prices in Pakistan held steady on Thursday, maintaining the previous day’s record levels as the local market tracked global trends.
According to the All-Pakistan Gems and Jewellers Sarafa Association (APGJSA), the price of gold stood at Rs. 438,862 per tola, while the 10-gram rate was unchanged at Rs. 376,253. On Wednesday, gold prices had surged by Rs. 2,300 per tola to reach the current level.
Internationally, gold prices remained flat at $4,165 per ounce, including a $20 premium. Meanwhile, silver prices in the local market rose by Rs. 160 to Rs. 5,642 per tola.
Global gold was broadly steady on Thursday after touching a near two-week high in the previous session, as investors weighed the likelihood of a U.S. interest rate cut in December amid mixed signals from the Federal Reserve.
Spot gold was down 0.2 percent at $4,154.09 per ounce, while U.S. gold futures for December delivery slipped 0.3 percent to $4,151.20 per ounce.