On Saturday, the gold rates in Pakistan witnessed a massive decline of Rs3,600, a day after showing no change from the previous day, and the cost of 24-karat gold went down to Rs239,400 per tola.
Dealers reported a similar declining trend in the price of 10 grams of 24-karat gold, which was available for Rs205,247 after witnessing a drop in price of Rs3,086. Furthermore, the price of 10 grams of 22-karat gold also displayed a similar fall and was available at Rs188,143.
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 price in Pakistan remains stable after fluctuation
The price of 24-karat silver also saw a drastic drop of Rs50 to be available at Rs2,750. Internationally also, the gold price witnessed a huge decline of $70, and was available at $2,292 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.
