Gold loses Rs5,600 per tola in Pakistan as global prices decline

Gold prices in Pakistan fell on Thursday, moving with weaker overseas quotations, Business Recorder reported. A tola was priced at Rs448,336 after shedding Rs5,600 over the course of the day. The day's fall of Rs5,600 was larger than the Rs1,800 decline recorded on Wednesday.

Ten-gram gold was quoted at Rs384,375 after losing Rs4,801, based on figures published by the All-Pakistan Gems and Jewellers Sarafa Association (APGJSA). On Wednesday, the tola had been priced at Rs453,936 following a Rs1,800 decline.

Internationally, gold declined by $56 to reach $4,258 per ounce, a move that Pakistani rates followed. Silver also slipped in Pakistan, falling by Rs171 to Rs6,837 per tola. Taken together, the figures show local bullion tracking the international trend lower.