Gold rates continue to fall in Pakistan

ISLAMABAD: The per tola price of 24 karat gold decreased by Rs 200 and was sold at Rs 240,000 on Saturday compared to its sale at Rs 240,200 on the last trading day, ARY News reported.

The price of 10 grams of 24 karat gold also decreased by Rs 172 to Rs 205,761 from Rs  205,933 whereas the price of 10 grams 22 karat gold went down to Rs 188,615 from Rs 188,772, the All Sindh Sarafa Jewellers Association reported.

The price of per tola and ten gram silver remained stagnant at Rs,2,800 and Rs.2,400.54 respectively.

The price of gold in the international market decreased by $5 to $2,333 from $2,338, the association reported.

Yesterday Reuters reported that gold prices hit a two-week low on Friday, set for their biggest weekly loss in over five months, as interest rate cut expectations started to dwindle after a hawkish tone in the U.S. Federal Reserve minutes.

U.S. gold futures was unchanged at $2,337.80.

Spot silver rose 1.3% to $30.49.

Platinum edged 0.3% higher to $1,022.35 and palladium gained 0.6% to $974.73. All three metals were headed for weekly losses.