Gold Prices in Pakistan Hold at Previous Value

Gold prices in Pakistan held steady on Thursday, maintaining the previous day’s record levels as the local market tracked global trends. According to the All-Pakistan Gems and Jewellers Sarafa Association (APGJSA), the price of gold stood at Rs. 438,862 per tola, while the 10-gram rate was unchanged at Rs. 376,253. On Wednesday, gold prices had surged by Rs. 2,300 per tola to reach the current level. Internationally, gold prices remained flat at $4,165 per ounce, including a $20 premium. Meanwhile, silver prices in the local market rose by Rs. 160 to Rs. 5,642 per tola. Global gold was broadly steady on Thursday after touching a near two-week high in the previous session, as investors weighed the likelihood of a U.S. interest rate cut in December amid mixed signals from the Federal Reserve. Spot gold was down 0.2 percent at $4,154.09 per ounce, while U.S. gold futures for December delivery slipped 0.3 percent to $4,151.20 per ounce.