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Gold prices in Pakistan experience a substantial decline

The fluctuation of gold prices is intricately tied to shifts in the value of the US Dollar.

Over the weekend, gold prices in Pakistan experienced a substantial decline, resulting in the cost of 24-karat gold dropping to Rs240,300 per tola following a previous increase of Rs1400.

Dealers also noted a corresponding decrease in the price of 10 grams of 24-karat gold, which now stands at Rs206,019, marking a reduction of Rs1200.

Additionally, the price of 10 grams of 22-karat gold exhibited a similar downward trend, now trading at Rs188,850.

These fluctuations are intricately tied to shifts in the value of the US Dollar, highlighting the strong correlation between currency values and gold prices. This underscores the significant impact of global economic factors on local gold markets.

Currently, the price of 24-karat silver in Pakistan stands at Rs2,820. Similarly, on the international front, the price of gold experienced a decline of $16, reaching $2,326 per ounce.

It’s crucial to acknowledge that gold rates in Pakistan can undergo significant fluctuations throughout the day, influenced by trends in the global market. The provided gold rates are obtained from reputable sources, primarily located in Karachi and Multan.

For the most accurate and up-to-date information on gold prices, individuals are advised to consult local gold merchants and jewellers.

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