On Wednesday, the gold market in Pakistan witnessed a notable decline, resulting in a decrease in gold prices. The cost of 24-karat gold saw an increase of Rs600, reaching Rs215,500 per tola.
Gold dealers observed a corresponding hike in the rate of 10 grams of 24-karat gold, with a rise of Rs515, now being traded at Rs184,756.
Moreover, the price of 10 grams of 22-karat gold experienced a decrease, reaching Rs169,360.
These fluctuations in gold prices are intricately tied to variations in the value of the US Dollar, emphasizing the close relationship between currency values and gold prices.
This connection underscores the influence of global economic factors on local gold markets.
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In contrast, the price of 24-karat silver remained steady at Rs2,600.
Internationally, the global gold price also witnessed a slight increase, declining by $2 to settle at $2,055 per ounce.
It is crucial to note that gold rates in Pakistan can undergo significant changes throughout the day, influenced by trends in the global market.
The provided rates are obtained from reliable sources, primarily situated in Karachi and Multan.
For the latest and most accurate information on gold rates, individuals are advised to consult local gold merchants and jewellers.
