KARACHI: On Saturday, gold prices in Pakistan witnessed a substantial drop, with the rate of 24-karat gold falling to Rs240,300 per tola, marking a decrease of Rs1,400. This decline was mirrored in the price of 10 grams of 24-karat gold, which dropped by Rs1,200 to trade at Rs206,019. Additionally, the price of 10 grams of 22-karat gold also fell, now trading at Rs188,850.
Impact of Currency Value and Global Economic Factors
The fluctuations in gold prices are closely linked to the movements in the value of the US Dollar, highlighting the interdependence between currency values and gold prices. This trend underscores the influence of global economic conditions on local gold markets.
Current Silver and International Gold Prices
The price of 24-karat silver in Pakistan stands at Rs2,820 per tola. On the international front, gold prices also experienced a decline, dropping by $16 to settle at $2,326 per ounce.
Read More : Latest: Gold rates in Pakistan today – May 31, 2024
Market Variability and Advice for Consumers
Gold rates in Pakistan are subject to significant variability throughout the day, influenced by global market trends. The provided rates are sourced from reputable markets, primarily in Karachi and Multan. For the most accurate and up-to-date information, individuals are advised to consult local gold merchants and jewelers.