Gold Prices Pakistan Drop to Rs304,000 per Tola
The decrease in gold prices brings relief to consumers, and the constant silver prices maintain stability in the market. The gold prices in Pakistan are expected to continue fluctuating based on international market trends.
Gold prices in Pakistan dropped by Rs3,000 to Rs304,000 per tola and by Rs2,571 to Rs260,630 for 10 grams of 24-karat gold on Thursday, according to the All Pakistan Sarafa Gems and Jewelers Association. The price decrease follows a rally earlier in the week where gold prices had risen in both global and local markets.
The price of 10 grams of 22-karat gold decreased by Rs2,359 to Rs238,919, while the prices of per tola and ten gram silver remained constant at Rs3,369 and Rs2,888 respectively. The decline in gold prices is attributed to a decrease in the international market, where the price per ounce fell by $28, reaching $2,893.
This drop in gold prices comes after a significant increase earlier in the week, where the international price increased by $5 to $2,921 per ounce and the local price per tola rose by Rs 700. The price of 10-gram gold had reached Rs263,203, with a rise of Rs2,571, and the price of gold per tola had reached Rs307,000, up by Rs3,000.
The fluctuations in gold prices are a result of changes in international rates, and the local market follows suit. The All Pakistan Sarafa Gems and Jewelers Association monitors and updates the prices regularly to reflect the current market trends.
