On Thursday, the gold prices in Pakistan saw a massive decline, taking the cost of 24-karat gold to Rs242,000 per tola after reporting a price decrease of Rs6,200.
Dealers reported a related fall in the price of 10 grams of 24-karat gold, which dipped by a good Rs5,315 to trade at Rs207,476. Furthermore, the price of 10 grams of 22-karat gold also saw a huge fall to trade at Rs190,186.
These movements are closely linked to changes in the value of the US Dollar, indicating the close relationship between currency values and gold prices. This underscores the impact of global economic factors on local gold markets.
Read more: Gold prices in Pakistan continue to decline
The price of 24-karat silver also saw a big dip of Rs50 to trade at Rs2,800. Internationally also, the gold price witnessed a huge decline of $60, reaching $2,355 per ounce.
It's very important to recognize that gold rates in Pakistan can vary significantly throughout the day, influenced by trends in the global market. The provided gold rates are sourced from reputable sources, primarily based in Karachi and Multan.
For the most up-to-date and accurate information on gold prices, individuals are advised to consult local gold merchants and jewellers.
