Gold rates in Pakistan continued to decrease on May 2, 2024, with the per tola rate of 24 karat gold dropping by Rs 900 and 10 grams of 24 karat gold decreasing by Rs 771. International gold prices also decreased by $8 to $2,308. This decline was attributed to a stronger dollar in the international market.
ISLAMABAD: The per tola rate of 24 karat gold decreased by Rs 900 and was sold at Rs 241,000 on Thursday compared to its sale at Rs 241,900 on last trading day, ARY News reported.
The price of 10 grams of 24 karat gold also decreased by Rs 771 to Rs 206,619 from Rs 207,390 whereas the prices of 10 gram 22 karat gold went down to Rs 189,400 from Rs 190,108, the All Sindh Sarafa Jewellers Association reported.
The price of per tola silver decreased by Rs.10 to Rs.2,620 whereas that of ten gram silver went down by Rs.8.58 to Rs2,246.22.
The price of gold in the international market decreased by $8 to $2,308 from $2,316, the association reported.
On April 30, Gold prices declined in Pakistan as per tola price slashed by Rs 2000.
According to the All Pakistan Gems and Jewellers Sarafa Association (APGJSA), the price of 24-krat gold declined by Rs2000 to reach Rs241,900 in the domestic market.
Similarly, the 10 grams of gold stood at Rs207,390 following a decline of Rs1715.
In international market, spot gold was down 1% at $2,312.17 per ounce, pressured by firmer dollar that makes the metal more expensive for overseas buyers. U.S. gold futures fell 1.4% at $2,324.80.
In recent months, the trend of declining gold rates in Pakistan has captured the attention of investors and prospective buyers alike. This trend has been influenced by a variety of domestic and international economic factors, prompting both speculations and concerns within the financial community. In this blog post, we will delve into the potential reasons behind this steady decline, examine its impact on the Pakistani market, and consider the implications for those with an interest in precious metals. Stay tuned as we navigate through the complex landscape of gold rates in Pakistan and unravel the underlying dynamics at play.
Source: ARY NEWS
Gold rates, both in Pakistan and the international market, have experienced a decline. The per tola rate of 24 karat gold in Pakistan dropped by Rs 900 to Rs 241,000, while the price of 10 grams of 24 karat gold decreased by Rs 771 to Rs 206,619. Additionally, the price of 10 gram 22 karat gold also saw a decrease. Furthermore, the price of silver has also decreased. In the international market, the price of gold decreased by $8 to $2,308. This decrease in gold prices is attributed to various factors, including a stronger dollar.
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