Gold price in Pakistan falls Rs600 per tola

Gold prices in Pakistan moved lower on Thursday, according to Mettis Global. The 24-karat grade was quoted at Rs462,336 per tola after a reduction of Rs600. Per 10 grams, the same purity sold for Rs396,378, down Rs515, based on figures from the All-Pakistan Gems and Jewelers Sarafa Association.

The 22-karat price per 10 grams eased as well, to Rs363,359. Silver also weakened in the local market, with 24-karat silver at Rs7,124 per tola, down Rs17, and Rs6,107 per 10 grams, a decline of Rs15.

Internationally, spot gold traded near $4,388 an ounce, down $5.4 or 0.12 per cent from the previous session. According to Mettis Global, a weaker greenback provided some backing for the metal, while traders waited for a crucial American inflation figure that might shape the Federal Reserve's next rate decision.