Gold prices in Pakistan fell on Wednesday, mirroring losses in the international market.
In the local market, the price of gold per tola dropped to Rs. 443,162 after a decrease of Rs. 1,000 during the day.
Similarly, 10-gram gold was sold at Rs. 379,939, down by Rs. 858, according to rates shared by the All-Pakistan Gems and Jewellers Sarafa Association (APGJSA). On Tuesday, the price per tola had reached Rs. 444,162 after a decline of Rs. 2,700 during the day.
Internationally, the price of gold declined by $10 to reach $4,208 per ounce, including a $20 premium. Meanwhile, the price of silver in the local market increased by Rs. 81 to Rs. 6,085 per tola.
Globally, gold regained ground on Wednesday as investors held onto expectations of a Federal Reserve rate cut, with a series of US economic data releases this week expected to influence monetary policy.
Spot gold rose 0.4 percent to $4,222.22 per ounce as of 0506 GMT, after falling more than 1 percent in the previous session. US gold futures for December delivery were up 0.8 percent at $4,252.90 per ounce. Silver also vaulted to a record high during the session.
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