On Wednesday, gold prices in Pakistan fell by Rs1,100. This reduction influenced gold rates across the country, raising the price of 24-karat gold to Rs214,800 per tola.
Dealers reported a matching decline in the price of 10 grams of 24-karat gold, which fell by Rs944 and is now trading at Rs184,156. Similarly, the price of 10 grams of 22-karat gold dropped, hitting Rs168,810.
These movements are strongly related to changes in the value of the US dollar, highlighting the complex relationship between currency values and gold prices. This highlights the impact of global economic variables on domestic gold markets.
In comparison, the price of 24-karat silver held steady at Rs2,570. Internationally, the global gold price saw a huge increase of $8, reaching $2,048 per ounce.
It’s essential 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.
