Gold rates in Pakistan dropped Rs1,600 per tola on Saturday, following a weekly decline of about 0.7 per cent in global markets. The All Pakistan Gems and Jewellers Association (APGJSA) said the metal closed trading at Rs439,036 per tola.
The fall came after local rates had climbed Rs2,800 per tola the previous day, reaching Rs440,636. Gold sold by the 10-gram measure also declined, falling Rs1,372 to Rs376,402.
Gold and silver rates slide in local trading
Overseas, gold lost $16 per ounce to settle at $4,165, marking a weekly fall of roughly 0.7 per cent. Silver prices weakened too, with the per-tola rate down Rs81 to Rs6,175, while 10-gram silver came to Rs5,294.
Market outlook for the coming week
Market trends suggest gold may stay volatile in the week ahead. Investors are watching global economic developments, US inflation data, movements in the dollar and expectations about interest rates.
