Gold prices in Pakistan remained stable on Thursday, with the price per tola holding at Rs. 425,178 after reaching a world record the previous day, according to the All-Pakistan Gems and Jewellers Sarafa Association (APGJSA).
The price for 10 grams of gold was unchanged at Rs. 364,521.
On Wednesday, gold prices had surged, with the per tola rate climbing by Rs. 1,500 to close at Rs. 416,778. The international gold price also held steady at $4,039 per ounce, including a $20 premium.
Meanwhile, silver prices in Pakistan rose by Rs. 82 per tola, reaching Rs. 5,066.
Globally, gold paused after a record-breaking rally, as investors took profits following bullion’s historic breach of the $4,000 per ounce mark amid ongoing economic and geopolitical uncertainties and expectations of further U.S. interest rate cuts this year.
Spot gold slipped 0.2% to $4,029.86 per ounce as of 0642 GMT, after hitting an all-time high of $4,059.05 on Wednesday. U.S. gold futures for December delivery fell 0.6% to $4,047.80.
Editorial & Legal Practice Group
Authored and reviewed by the corporate law and tax litigation practice group at Javid Law Associates. Our team comprises High Court advocates, corporate legal advisors, and authorized tax practitioners across Pakistan.
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