Gold prices plummet in Pakistan, global markets

Karachi: Gold prices in Pakistan plunged on Thursday in line with their loss in the international market. The price of yellow metal reached Rs396,800 per tola after a decline of Rs2,000 during the day.

According to the All-Pakistan Gems and Jewellers Sarafa Association (APGJSA), 10-gram gold was sold at Rs340,192 after it lost Rs1,714.

On Wednesday, gold price per tola was unchanged at Rs398,800.

The international rate of gold also saw a decrease today. The rate was at $3,750 per ounce (with a premium of $20), a loss of $20, as per APGJSA.

Furthermore, international gold prices held steady on Thursday as investors awaited key US economic data for further insights into Federal Reserve policy, with a slightly weaker dollar lending some support to bullion. Spot gold was steady at $3,734.04 per ounce, as of 0202 GMT.

US gold futures for December delivery were unchanged at $3,765.20.

The US dollar index fell 0.1%, making greenback-priced bullion less expensive for overseas buyers.