ISLAMABAD: After a major decline in the international market last day, the per tola price of 24 karats of gold in the local bullion market witnessed a major decrease by Rs.3,500 to settle at Rs.210,800 on Wednesday against its last day sale at Rs.214,300.
Meanwhile, according to the All Sindh Sarafa Jewellers Association, the rates for the 10 grams of 24 karats of the precious metal received the same treatment and decreased by Rs.3,001 to close at Rs.180,727 against the last day price of Rs 183,728, while that of 10 grams of 22 karats of the yellow plate decreased to Rs.165,666 from the previous day rates of Rs. 168,416.
Like the yellow plate, the Price per tola white plate (silver) also went down by Rs.20 to settle at the last day price of Rs2,580 from the previous day price of Rs.2,600, while that of ten grams of silver went down by Rs.17.15 to settle at Rs.2,211.93 against Rs 2,229.08 last day.
Gold Price in International Market
Like the local bullion market, the rates for the yellow metal in the international market witnessed a sharp decline since yesterday, and decreased by $33 to settle at $2,010 per ounce against $2,043 the previous day. Bullion experts predicted a further decline in gold rates in the international market after last day’s high CPI (Consumer Price Index) figure.
During last two weeks, the rates for the yellow metal in the international market decreased by more than $50 per ounce due to the delay in the rate cut till April 2024 followed by the CPI figures. The Price of gold in the local market is mostly affected by the Price in the international market.
