\n<\/p>\n
KARACHI: Gold and silver prices declined in Pakistan on Thursday, September 10, in line with a drop in international bullion prices amid continued geopolitical uncertainty.<\/strong><\/p>\n According to rates issued by the All Pakistan Sarafa Gems and Jewellers Association, the price of 24-karat gold fell by Rs600 per tola to Rs462,336.<\/p>\n The price of 10 grams of 24-karat gold decreased by Rs515 to Rs396,378, while 10 grams of 22-karat gold fell by Rs472 to Rs363,359.<\/p>\n In the international market, gold declined by $6 to $4,398 per ounce, the association said.<\/p>\n Meanwhile, silver prices also decreased, with the price per tola falling by Rs17 to Rs7,124. The price of 10 grams of silver declined by Rs15 to Rs6,107.<\/p>\n International silver prices fell by $0.17 to $66.45 per ounce.<\/p>\n Investors continued to monitor geopolitical developments in the Middle East, while markets also awaited key US inflation data for clues about the Federal Reserve\u2019s interest-rate policy.<\/p>\n Gold is generally viewed as a safe-haven asset and tends to attract investors during periods of market uncertainty, economic weakness and expectations of lower interest rates.<\/p>\n Markets were awaiting US producer price index data due later on Thursday, followed by consumer price inflation data on Friday.<\/p>\n According to a Reuters poll, a majority of economists expect the Federal Reserve to keep interest rates unchanged at its September 15\u201316 meeting and for the rest of the year.<\/p>\n However, traders were pricing in about a 60% chance of a rate hike at the upcoming meeting, according to the CME FedWatch Tool.<\/p>\n<\/div>\n