Business
Gold price decreases in Pakistan
Precious commodity lost Rs100 per tola and Rs86 per 10 grams to settle at Rs126,150 per tola and Rs108,153 per 10 grams, respectively
Karachi: The gold price on Thursday decreased by Rs100 per tola to Rs126,150 in Pakistan.
According to the All Sindh Sarrafa and Jewelers Association, the precious commodity lost Rs100 per tola and Rs86 per 10 grams — the exact same gains recorded a day earlier — to settle at Rs126,150 per tola and Rs108,153 per 10 grams, respectively.
The international gold price receded by $19 to close at $1,801 today, as minutes of the US Federal Reserve's December meeting signalled quicker increases to interest rates, boosting the dollar and Treasury yields.
Silver Price
Meanwhile, silver prices in the domestic market remained unchanged today at Rs1,460 per tola and Rs1,251.71 per 10 grams.
On Wednesday, the gold price increased by Rs100 per tola to Rs126,250 in Pakistan. It has increased by Rs200 in the past two days.
In the international market, 24k-gold surged by $17 per ounce to settle at $1,820, according to the rates compiled by All Sindh Sarrafa and Jewelers Association.
The precious commodity remained extremely volatile in the global markets amid the Omicron outbreak. It recorded a sharp drop of $22 on January 4.
Meanwhile, silver price in the domestic market remained unchanged at Rs1,460 per tola and Rs1,251.71 per 10 grams.