Commodities
Pakistan Gold Prices Plummet by Rs11,300 as International Bullion Falls
Gold prices in Pakistan plummeted by Rs11,300 per tola on Wednesday, marking the second consecutive day of decline. The price of 24-carat gold fell to Rs454,036 per tola, while 10-gram gold declined by Rs9,688 to reach Rs389,262.
The drop in international bullion prices, which traded near $4,303 per ounce on Wednesday, was largely responsible for the decline. The US dollar strengthened and interest rate expectations increased, adding pressure to gold prices in global markets.
Investors are closely watching upcoming US economic data for clues about Federal Reserve policy, particularly August employment figures that could provide further guidance on future interest rate decisions.