On Wednesday, the price of gold in Pakistan experienced a significantdecrease. Today’s gold rates of 24-karat gold per tola dropped by Rs1,200,settling at Rs211,800.
Similarly, the price of 10 grammes of this precious metal also saw adecrease of Rs1,029, reaching Rs18,584.
In the global market, spot gold witnessed a 0.2 per cent decline, reaching$1,978.14 per ounce, while US gold futures dropped by 0.4 per cent to$1,987.10.
Notably, spot gold had recently surged by 7.3 per cent in October, reachinga five-month high of $2,009.29.
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Looking ahead, gold prices may remain within a range of $1,951 to $1,964per ounce, given its inability to break the $2,010 resistance level, assuggested by Reuters technical analyst Wang Tao.
Additionally, spot silver declined by 1.5 per cent to $22.56 per ounce,platinum slipped by 0.9 per cent to $925.18, and palladium remained steadyat $1,116.19.