KARACHI: Gold rates in Pakistan experienced a downward trend, reflecting a dip in global bullion prices as investors navigate geopolitical tensions in the Middle East alongside predictions of rising US interest rates.
The All Pakistan Sarafa Gems and Jewellers Association (APSGJA) reported that the price of 24-karat gold per tola dropped by Rs900, settling at Rs425,036.
In addition, the rate for 10 grams of 24-karat gold decreased by Rs771, reaching Rs364,399.
On the international front, spot gold prices slipped to $4,027.49 per ounce. US gold futures for August delivery also declined by 0.9%, trading at $4,034.00 per ounce, as market sentiment reacts to geopolitical developments and shifting monetary policies.
