Pakistan Gold Prices Slide Amid Soft Global Market Ahead of US Inflation Data

Gold prices in Pakistan dropped by Rs1,000 per tola on Tuesday, following a softer international market. According to rates issued by the All-Pakistan Gems and Jewellers Sarafa Association, 24-karat gold fell to Rs462,136 per tola, while ten-gram gold was quoted at Rs396,207 after a drop of Rs857.

The local market has lost Rs3,400 per tola over two days. On Monday, gold had already declined by Rs2,400 per tola. Silver moved in the opposite direction, rising Rs10 to Rs7,069 per tola.

In global markets, spot gold fell 0.1% to $4,398.71 an ounce by 11:42 am EDT (1542 GMT). US gold futures for December delivery dropped 0.7% to $4,443.60.