Gold prices in Pakistan declined on Thursday after recording a hike in earlier session.
In the local market, the price of gold dropped by Rs700 per tola, settling at Rs275,200. Similarly, the rate for 10-gram gold declined by Rs600, reaching Rs235,940, according to the All-Pakistan Gems and Jewelers Sarafa Association (APGJSA).
On Wednesday, the price of gold per tola had risen by Rs1,600 in Pakistan.
Meanwhile, silver rates remained steady at Rs3,400 per tola.
Internationally, gold prices fell on Thursday, with the rate quoted at $2,640 per ounce (including a $20 premium), marking a $7 decrease during the day, as per the APGJSA.
The global dip in gold prices was attributed to a stronger US dollar, as investors analyzed economic data suggesting limited progress in curbing inflation, hinting that the Federal Reserve might approach further interest rate cuts cautiously.
