The gold price in Pakistan decreased significantly on Tuesday. The rate of 24-karat went down by Rs. 1,000 per tola. The All Sindh Sarafa Jewellers Association latest update reportedly claimed the price of 24-karat gold per tola was Rs. 274,700, whereas it was at Rs. 275,700 the previous day. Gold prices 24-karat As well, 10 grams of gold lost Rs. 857 in price value as it closed at Rs. 235,511 from the previous one at Rs. 236,368.
22-karat gold in Pakistan today also reported the decline in the rates. The rate of 10 grams of 22-karat gold declined to Rs. 215,885 from Rs. 216,671. This trend, therefore, reflects a price fall for gold in the domestic market and a good scope exists for buyers and investors to acquire gold in relatively lower prices.
Curiously, silver prices even did not change in this period, and no changes occurred. The price of one tola silver remained the same at Rs. 3,050, while 10 grams of silver was sold at a price of Rs. 2,614.88. Silver prices, unlike the gold market, remained stable.
However, on the international front, the latest gold price in Pakistan is seen according to the trends it shows globally, as international gold prices have also gone down. The global gold price dipped by $9 and stood at $2,647 against $2,656 from the previous day. The international dip thus has a direct effect on the local and hence this recent dip in Pakistan’s latest gold price.
On October 7, 2024, the price of gold rose by Rs. 200 per tola in Pakistan. This is how market sentiments are unstable both nationally as well as internationally.
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