Gold price in Pakistan falls Rs3,100 per tola

Mettis Link News reported that gold prices in Pakistan fell on Wednesday, with 24-karat gold selling at Rs434,436 per tola, a decline of Rs3,100, according to the All-Pakistan Gems and Jewelers Sarafa Association. Per 10 grams, the 24-karat rate stood at Rs372,458 after a reduction of Rs2,658, while 22-karat gold was quoted at Rs341,432.

Silver also declined domestically, with 24-karat silver selling at Rs6,488 per tola, down Rs100, and Rs5,562 per 10 grams, down Rs86. Overseas, spot bullion changed hands around $4,116 an ounce, a fall of $49.4 or 1.19 per cent from the previous session.

Market participants were awaiting minutes from the Federal Reserve's September session, seeking indications on whether officials still favour further increases in interest rates. The report does not name any listed company.