The price of gold in Pakistan has finally dropped after four straight days of increases. According to the All Sindh Sarafa Jewellers Association, the price of 24-karat gold per tola fell by Rs. 1,200 on Saturday, settling at Rs. 275,700. This is a decrease from the previous day’s price of Rs. 276,900.
Earlier in the week, the gold market saw consistent increases. On Wednesday, the price rose by Rs. 1,000 per tola, followed by another Rs. 1,100 increase on Thursday. The trend continued on Friday with a significant jump of Rs. 2,200 per tola. However, Saturday marked the first decline in the gold price this year.
For those who buy gold in smaller quantities, the price of 10 grams of 24-karat gold also dropped by Rs. 1,029. It is now priced at Rs. 236,368 compared to Rs. 237,397 the day before. Similarly, the price for 10 grams of 22-karat gold decreased to Rs. 216,671 from Rs. 217,614.
Interestingly, the prices of silver remained steady. Per tola of silver continued to sell at Rs. 3,350, while 10 grams were priced at Rs. 2,872.08. This stability in silver prices provides an alternative for those looking for a more affordable precious metal.
The international gold market also showed a decline. Gold prices fell by $18, with the new rate being $2,639 per ounce compared to the previous $2,657.
This latest decrease in gold prices might bring relief to buyers and investors who have been watching the market closely. The fluctuation in gold prices reflects both local and international market trends, and many are hoping for further stability in the coming days.
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