According to data released by the All-Pakistan Gems and Jewellers Sarafa Association (APGJSA), the price of gold stood at Rs395,800 per tola. The rate for 10 grams was recorded at Rs339,334, down by Rs858.

A day earlier, the price of gold had dropped by Rs2,000 to settle at Rs396,800 per tola.

In the global market, gold prices slipped as stronger-than-expected US economic data raised doubts about the Federal Reserve’s interest rate cut outlook, strengthening the dollar ahead of a key inflation report.

Spot gold declined 0.2% to $3,741.21 per ounce as of 0147 GMT, though it remained up 1.6% for the week.

US gold futures for December delivery held steady at $3,771.30.

Meanwhile, silver prices in Pakistan moved higher, gaining Rs64 per tola to reach Rs4,499.