Gold rates decline in Pakistan

Gold rates registered decline in Pakistan, as well as in international markets on Thursday, after several days of upward movement, reported 24NewsHDTV Channel. 

According to data released by the All Pakistan Sarafa Gems and Jewellers Association, the price of 24-karat gold per tola decreased by Rs4,100, falling to Rs384,000 from Rs388,100 on the previous trading day. Similarly, the rates of 10 grams of 24-karat gold also dropped by Rs3,515, settling at Rs329,218 from Rs332,733. 

The international market also experienced a dip in gold prices, which decreased by $36, from $3,654 to $3,618, the Association reported. 

In global market, the gold prices edged lower on Thursday, hovering near record highs, as investors awaited US consumer inflation data due later in the day following weaker-than-expected producer price figures that reinforced expectations of a Federal Reserve rate cut next week.