Significant drop recorded in Gold prices both in the domestic and Global market, falling to 4,30,662, while the prices of 10-gram gold recorded 369223.
According to the details, the third-largest decline in gold prices in history has been recorded at the global and local levels, which has created a stir among investors and the bullion market. According to the All Pakistan Gems and Jewelers Bullion Association, the price of 24-carat gold per tola at the local level has decreased by Rs 9,100, and this price has fallen to Rs 430,662. Similarly, the price of 10 grams of gold has also decreased by Rs 7,799 to Rs 369,223.
A decrease has also been seen in the price of silver, according to which silver per tola has decreased by Rs 209 to Rs 5,313. The price of gold has also declined significantly in the global market. An ounce of gold has fallen by $91 to $4,083. This historic decline is having an impact on the local market as well as global investment and trade activities. A representative of the Sarafa Association says that after this decline, it will become relatively easier for consumers to buy gold, but market uncertainty remains for investors.
This decline is being seen due to global economic pressures, currency fluctuations, and investment trends, the effects of which may become more noticeable on the local market in the coming days.
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KARACHI: The Gold prices in Pakistan have slashed both in the local and global markets, with new prices decreasing by up to Rs 3,300 per tola. The overall price of gold per tola reached Rs 439,762.
According to the All Pakistan Gems and Jewellers Association, after a decrease of Rs 3,300, the price of gold per tola in the country has reached Rs 439,762. The price of gold per tola has increased significantly today
Similarly, the price of 10 grams of gold has decreased by Rs 2,829 to Rs 3,77,025. On the other hand, the price of gold in the global market has decreased by $33 to $4,174 per ounce.
Read also: Gold latest price in Peshawar- November 13
The domestic gold market in Peshawar city in Khyber Pakhtunkhwa experienced a decline as international bullion prices fell on Thursday.
According to the All Pakistan Sarafa Gems and Jewellers Association (APSGJA), the price of 24-karat gold decreased by Rs 1,000 per tola, while the rate for 10 grams dropped by Rs 857. This decline was influenced by a slight strengthening of the U.S. dollar, as global investors reevaluated their expectations regarding interest rates.
Analysts noted that this pullback in gold prices followed a week of consistent gains, with investors becoming cautious in anticipation of upcoming economic data releases.
