KARACHI – Gold lost its winning streak on Thursday after registering massive gains in previous four sessions in domestic market of Pakistan.
Data shared by All Pakistan Gems and Jewellers Association showed per tola gold price dropped by Rs2,500 to settle at Rs407,778.
Similarly, the price of 10-gram fell by Rs2,144 to reach Rs349,603.
The downward trend comes from the international market where bullion rates plunged by $25 to settle at $3,865.
A day earlier, gold reached the historic high level in domestic market after per tola gold price surged by Rs3,500 to climb to Rs410,278.
Similarly, the price of 10-gram moved up by Rs3,001 with new rate settling at fresh high of Rs351,747.
Meanwhile, Pakistan Stock Exchange (PSX) advanced its winning momentum, with benchmark KSE-100 Index breaking the 166,000 barrier during intraday trading.
On Thursday, stock market climbed to 166,312.02, up 671.69 points. Market excitement was fueled by robust buying in major sectors, including automobile assemblers, commercial banks, and oil and gas exploration companies.
Globally, markets were buoyed by tech stock rallies across Asia. Gold hovered near record highs, while greenback weakened after disappointing private ADP jobs report, showing unexpected job losses.
