Karachi January 5 2023: According to All Sindh Sarafa Jewelers Association, the price of gold per tola decreased for the consecutive day by PKR 4,400 per tola for 24 Karat on Thursday (PST 21:00) after hitting all time high of PKR 188,300 per tola on Tuesday.
During the week the price of Gold decreased by PKR 1,700 per tola.
The price of 24 karat 10 grams of gold trading at PKR 1 lakh 57 thousand 320, whereas that of 10 gram 22 karat went down to PKR 144,209, All Sindh Sarafa Jewellers Association reported.
The per tola silver is trading at PKR 2,060 on Thursday.
In international market Gold prices slipped more than 1% on Thursday, retreating from a near seven-month peak hit in the last session, as reports of a tighter-than-expected U.S. labour market boosted expectations of higher interest rates for longer.
Spot gold dropped 1.5% to $1,827.14 per ounce by 11:02 a.m. ET (1602 GMT). U.S. gold futures fell 1.4% to $1,833.40.
The strength in the dollar index and yields rising were weighing on gold, said Phillip Streible, chief market strategist at Blue Line Futures in Chicago, highlighting that the Fed would continue to remain hawkish for longer as the labour market continues to be strong.