KARACHI: Gold prices in Pakistan on Thursday fell after touching a record high amid market swings due to the Federal Budget 2024-25.
The data shared by the Sarafa Association showed that the price of gold fell by Rs 1,200 per tola on June 13, 2024. The new price of gold is Rs 240,700, and the price of 10 grams has come down from Rs 1,029 to Rs. 206,361.
He said that due to reduction in purchasing power of the buyers, the price of gold became Rs.100. 1,500 less than its original price. Earlier, the association had given a discount on gold of Rs. 4000 per tola.
Internationally, gold fell today after the US Federal Reserve forecast just one interest rate cut this year. Spot gold was down 0.2 percent at $2,317.38 an ounce by 1053 GMT, while U.S. gold futures were down 0.9 percent at $2,333.10.
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