Gold Rates register significant decline in Pakistan
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On Wednesday, the price of gold in Pakistan experienced a significant decrease. 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 a decrease 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, reaching a five-month high of $2,009.29.
Looking ahead, gold prices may remain within a range of $1,951 to $1,964 per ounce, given its inability to break the $2,010 resistance level, as suggested 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 steady at $1,116.19.
