Karachi, June 14, 2023: Gold rates in Pakistan experienced a sharp decline on Wednesday, following a significant drop observed in international markets.
READ MORE: Gold Prices in Pakistan Decline Due to Global Market Trends
The price of 24-karat gold per tola fell by Rs2,500, ending at Rs219,000 compared to the previous day’s closing of Rs221,500. Similarly, the price of 24-karat gold per 10 grams witnessed a decline of Rs2,143, concluding at Rs187,757 from the previous day’s closing of Rs189,900. In local markets, the price of 22-karat gold per 10 grams also decreased by Rs1,964, ending at Rs172,111, compared to the previous day’s closing of Rs174,075.
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Internationally, the price of gold saw a decline of $13, settling at $1,948 per ounce, as opposed to the previous day’s closing of $1,961.
Silver prices in Pakistan also recorded a significant decline, parallel to the fall witnessed in international markets.
READ MORE: Gold Eases in Pakistan Amid Sharp Decline in International Markets
The price of 24-karat silver per tola decreased by Rs100, concluding at Rs2,550 compared to the previous day’s closing of Rs2,650. Similarly, the price of 24-karat silver per 10 grams experienced a decrease of Rs85.75, settling at Rs2,186.21 from the previous day’s closing of Rs2,271.94. In international markets, the price of silver declined by 26 cents, ending at $23.89 per ounce, compared to the previous day’s closing of $24.15.
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The decline in gold and silver prices in Pakistan can be attributed to the overall global market trends, which experienced a significant downturn. Investors closely monitor international markets as they heavily influence precious metal prices, resulting in corresponding fluctuations in local markets.
