Gold price in Pakistan falls Rs900 per tola

Gold prices in Pakistan eased on Wednesday, October 21, with 24-karat bullion quoted at Rs434,536 per tola, Rs900 below the previous rate, Mettis Global reported, citing the All-Pakistan Gems and Jewelers Sarafa Association. The 10-gram 24-karat rate fell Rs772 to Rs372,544, while 22-karat gold was priced at Rs341,511 per 10 grams.

Domestic silver also weakened: 24-karat silver was recorded at Rs6,207 per tola, a Rs27 decline, and Rs5,321 per 10 grams, down Rs23. Internationally, spot gold traded near $4,129 an ounce, gaining $15.5, or 0.38%, from the prior session as oil's recovery renewed inflation concerns and investors positioned cautiously before next week's US Federal Reserve policy meeting. The local and international moves therefore diverged in the reported session.