Gold Prices in Pakistan Drop Rs300 Per Tola
The decrease in gold prices is a significant development, and it is crucial to understand the factors that influence these changes. The international market trends, particularly the decrease in the price of an ounce of gold, have contributed to the decline in gold prices in Pakistan. Meanwhile, the increase in silver prices may present opportunities for investors and the jewelry industry.
Gold prices in Pakistan decreased by Rs300 per tola and Rs257 per 10-gram on Friday, with the price of gold per tola reaching Rs349,700 and 10-gram gold selling at Rs299,811, according to the All Pakistan Sarafa Gems and Jewelers Association.
The decline in gold prices comes after it hit a record high of Rs350,000 per tola on Thursday. The international rate of gold also decreased, with the price of an ounce falling to $3,326 per ounce with a premium of $20, a decrease of $3. This decrease in international gold prices has led to a corresponding decrease in gold prices in Pakistan.
In contrast to gold, silver prices increased by Rs16 to Rs3,417 per tola. The price of 10 grams of silver also increased by Rs14 to Rs2,929. International silver prices increased by $0.16 to $32.55. The fluctuations in gold and silver prices are a result of changes in international market trends, which are closely followed by local gold markets and Sarafa Markets in various cities across Pakistan.
The All Pakistan Sarafa Gems and Jewelers Association provides the rates for gold and silver in Pakistan, and these rates are subject to change based on international market trends. The decrease in gold prices and increase in silver prices may have implications for the jewelry industry and investors in Pakistan, and it is essential to monitor these changes to make informed decisions.