RECORDER REPORT

KARACHI: Gold lost momentum, falling from all-time highs on Thursday, as global market receded close to $2,850 per ounce, traders said.

The precious metal lost a value by Rs900 and Rs772, declining from a record high to Rs298,700 per tola and Rs256,087 per 10 grams, respectively, All Pakistan Sarafa Gems and Jewellers Association said.

On the world market, gold bullion prices reduced by $9, receding from an all-time high to $2,859 per ounce while silver was selling for just over $32 per ounce.

Domestic silver prices also followed the pattern, sliding by Rs23 and Rs20 to trade at Rs3,327 per tola and Rs2,852 per 10 grams, respectively, the association added.