Gold price falls in Pakistan, global market

KARACHI: The rate of gold fell by Rs50 per tola in the domestic market on Thursday.

Precious metal is being traded at Rs130,350 per tola, according to All Pakistan Jewellers Manufacturers Association Chairman Muhammad Arshad.

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Similarly, the price of 10 grams gold decreased by Rs43 to Rs111,754.

In the global market, gold eased as risk appetite recovered, but was still on track for a weekly gain buoyed by safe-haven demand amid the Ukraine crisis and mounting price pressures, Reuters reported.

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Spot gold dipped 0.2% to $1,973.41 per ounce as of 1100 GMT, after a six-session winning streak. U.S. gold futures dropped 0.6% to $1,973.30.