The All Sindh Sarafa Jewellers Association reported that the price of 24 karat per tola gold sold at Rs283,200 compared to its sale at Rs.283,700 on last trading day.

The association reported that the price of 10 grams of 24 karat gold also decreased to Rs242,798 from Rs. 243,227 while the price of 10-gram gold of 22-karat went down to Rs222,565 from Rs222,958,.

According to FX Street, the gold price has retreated somewhat from its record level of the previous week and is trading at around $2,740 per troy ounce, Commerzbank’s commodity analyst Carsten Fritsch notes.

The polls predict a neck-and-neck race between Democratic Vice President Kamala Harris and Republican former President Donald Trump. Trump’s lead in the betting markets has narrowed considerably of late. This would also reduce the tailwind for gold, as inflation is likely to be higher under Trump than under Harris, the report said.