Gold prices experience decline in Pakistan

KARACHI: Gold continued a downward trend in Pakistan as per tola price of 24 karat gold on Saturday witnessed a massive decrease in the local market on Saturday, ARY News reported.

The per tola price of 24 karat gold witnessed a decrease of Rs1800 and was sold at Rs.216,800 in the domestic market.

The price of 10 grams of 24-karat gold also reduced by Rs1543 and being sold at Rs185,871.

Meanwhile, the price of gold in the international market also decreased by $15 to $2,040, the Association reported.

Gold prices touched a 10-day high on Thursday as the U.S. dollar and Treasury yields slipped after the Federal Reserve signaled an end to its monetary policy tightening cycle.

Spot gold rose 0.4% to $2,034.31 per ounce by 3:17 p.m. ET (2017 GMT). U.S. gold futures settled 2.4% higher at $2,044.90.

Spot silver rose 1.6% to $24.13 per ounce, while platinum gained 2.6% to its highest since September at $958.51.

Palladium surged 11% to $1,102.44, set for its best session since March 2020 after hitting a five-year low earlier this month.