Gold Prices Witness Decline in Pakistan Amidst Global Fluctuations

In a recent development the Gold price in Pakistan has experienced another dip dropping by Rs650 per tola to reach Rs215,850 per tola on Thursday. The All Pakistan Gems and Jewelers Association (APGJA) Reported that the cost of 24-karat Gold has seen a reduction of Rs650,settling at Rs215,850 per tola. Following a decline of Rs557 the Price for 10 Grams of 24-karat Gold now stands at Rs185,057 according to the news.

Internationally the Price of Gold has also observed a Decrease of $6. Despite this Gold Prices slightly increased on Thursday as the U.S. dollar ticked lower. However the Precious metal lacked the momentum to Surge Higher with investors adopting a cautious approach in holiday-thinned trading due to uncertainty surrounding the Federal Reserve’s future rate path as reported .

As of 1041 GMT Spot Gold exhibited a 0.1% increase reaching $1,992.36 per ounce following a three-week High of $2,007.29 on Tuesday. U.S. gold futures remained steady at $1,993.30.

StoneX analyst Rhona O’Connell Commented on the situation stating Absent any fresh influences I still don’t think that gold has the momentum to maintain prices much above $2,000 for the rest of the year. O’Connell Highlighted that while underlying forces such as Geopolitical Tensions and Potential banking Stresses Support Gold in the longer term a Significant escalation in these Factors is necessary to Sustain Higher Prices.


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Gold found Support as the U.S. Dollar weakened by 0.3% against its rivals and the Benchmark U.S. 10-year Treasury yields closed at a two-month low on Wednesday. Lower interest rates Contribute to decreasing the Opportunity Cost of Holding Gold.


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With most U.S. Markets Closed for the Thanksgiving holiday trading is expected to be thin and the Future trajectory of Gold Prices will likely hinge on Global economic Developments and Geopolitical Factors.