KARACHI: Gold rate in Pakistan declined by Rs2,200 to Rs261,500 per tola in the local market on Thursday (Aug 29).

The All-Pakistan Gems and Jewellers Sarafa Association (APGJSA) said that the 10-gram gold was sold at Rs224,194 after it registered a decrease of Rs1,886.

On the other hand, silver prices remained unchanged in the domestic market, with 24-karat silver being sold at Rs2,950 per tola and Rs2,529 per 10-gram.

On the global front, spot gold traded near $2,518 an ounce, up $9.9 or 0.39% from the previous session.

U.S. gold futures settled 1.3% lower at $2,343.

Platinum rose above the key level of $1,000 per ounce to a near one-year high. It was up 0.6% at $1,000.55 per ounce.