Gold prices in Pakistan continued to fluctuate on Wednesday, tracking similar movements in the global market.
In local trading, the price of gold per tola retreated to Rs. 443,162, slipping by Rs. 1,000 during the session.
Rates for 10-gram gold stood at Rs. 379,939, down by Rs. 858, according to figures from the All-Pakistan Gems and Jewellers Sarafa Association (APGJSA). A day earlier, the per-tola price reached Rs. 444,162 after a decline of Rs. 2,700.
On the international front, bullion prices softened by $10 to $4,208 per ounce including a $20 premium. In contrast, silver prices jumped locally, rising by Rs. 81 to hit Rs. 6,085 per tola.
Globally, gold regained traction on Wednesday as expectations of a potential Federal Reserve rate cut supported sentiment. Key US economic data due this week is likely to drive market direction and influence monetary policy.
Spot gold climbed 0.4% to $4,222.22 per ounce as of 0506 GMT, after a sharp fall in the previous trading session. US gold futures for December delivery advanced 0.8% to $4,252.90 per ounce, while silver touched a fresh record high during the session.
