ISLAMABAD: On Tuesday, the per tola price of 24 karat gold in Pakistan witnessed a decrease of Rs1,100, with the precious metal being sold at Rs214,200 compared to Rs215,300 on the previous day.
Similarly, the price of 10 grams of 24 karat gold also experienced a decline, falling by Rs943 to Rs183,642 from Rs184,585. In the case of 22 karat gold, the price per 10 grams went down to Rs168,338 from Rs169,203, as reported by the All Sindh Sarafa Jewellers Association.
It is worth noting that the price of silver remained unchanged, with the per tola and ten gram prices remaining at Rs2,550 and Rs2,186.21 respectively.
These fluctuations in gold prices reflect the global market trends. In the international market, the price of gold decreased by $9, reaching $1922 from $1931, as reported by the association.
The gold market is influenced by a variety of factors, including global economic conditions, supply and demand dynamics, and investor sentiment. Investors and traders closely monitor these price movements as they assess the market’s performance and make decisions regarding their investments in the precious metal.
Gold holds significant cultural and economic value in Pakistan, with it being a popular choice for jewelry and an investment option for many individuals and businesses. The price fluctuations can impact consumer behaviour and investment decisions in the country.
