Data from the All-Pakistan Gems and Jewellers Sarafa Association (APGJSA) revealed that gold prices in Pakistan dropped on Thursday as profit-taking pulled down international markets amid signs of a waning desire for safe haven assets.
The 10-gram rate fell Rs2,571 to Rs260,630, while the price per tola (11.7 grams) fell Rs3,000 to close at Rs304,000. In the meantime, the price of 22-karat gold dropped by Rs 2,359 to Rs 23,819 per 10 grams.
A stronger dollar and changing market attitude caused international gold prices to drop by $28 to $2,893 per ounce, according to data released by APGJSA.
In contrast, the price of silver was constant at Rs 3,369 per tola and Rs 2,888 per 10-gram.
Thursday saw a 1% decline in global bullion prices as investors booked profits.
