Karachi, June 8, 2023: Gold prices in Pakistan experienced a decline on Thursday, following a sharp drop in the international markets.
READ MORE: Gold Prices in Pakistan Drop by Rs800 per Tola
The price of 24-karat gold per tola (11.66 grams) decreased by Rs300 to close at Rs227,000, compared to the previous day’s closing of Rs227,300 in the domestic markets. Similarly, the price of 24-karat gold per 10 grams fell by Rs257 to Rs194,616, down from the previous day’s close of Rs194,873. Additionally, the price of 22-karat gold per 10 grams dropped by Rs236 to Rs178,398, compared to the previous day’s closing of Rs178,634 in the local markets.
READ MORE: Gold Prices in Pakistan Witness Decline Amidst International Rise
Internationally, the price of gold experienced a significant decline of $15, ending at $1,946 per ounce, down from the previous day’s closing of $1,961.
In contrast, silver prices in Pakistan remained unchanged despite a surge in international markets. The price of 24-karat silver per tola and per 10 grams remained steady at Rs2,600 and Rs2,229.88, respectively, in the local markets. However, internationally, silver gained 12 cents, closing at $23.73 per ounce, up from the previous day’s closing of $23.61.
READ MORE: Gold Prices Experience Decline in Pakistan Amidst Global Market Downturn
The decline in gold prices in both the domestic and international markets can be attributed to various factors, such as changes in global economic conditions, fluctuations in the value of the US dollar, and investor sentiment.
Investors and consumers closely monitor the price of gold as it is considered a safe-haven asset and often used as a hedge against inflation and economic uncertainties.
READ MORE: Gold Rates Plummet in Pakistan Due to International Market Slump
Please note that this gold report is based on the information available up until June 8, 2023, and may not reflect any subsequent market developments or changes.
