According to the All Sindh Sarafa Jewellers Association, the 24 karat gold decreased by Rs2,300 per tola and sold at Rs283,100 compared to its sale at Rs285,400 on last trading day.
Likewise, the price of 10-gram gold of 24 karat also decreased by Rs1,971 to Rs242,713 from Rs244,684. The price of 10 gram 22 karat gold went up to Rs222,487 from Rs224,294, the association added.
In the international market, gold recovered to trade back in the $2,740s on Thursday, after a 1.2% sell-off on the previous day, most probably driven by profit-taking. The precious metal is once again on the rise on the back of continued safe-haven flows as the conflict in the Middle East continues with no sign of resolution, the report said.
Further, the news that North Korea has sent troops to Russia to potentially participate in the war with Ukraine has ratcheted up geopolitical risks, as has increased election uncertainty in the US, it said.