Karachi, July 22, 2023 – In a recent development, the gold prices in Pakistan experienced a softening trend, mirroring the fall observed in the international market.
On July 22, 2023, gold prices in the country dropped by Rs 100, leading to fluctuations in both the 24 karat per tola and 24 karat per 10 grams rates in the local market.
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As a consequence of the decline, the price of 24 karat per tola gold closed at Rs 222,800, while the rate for 24 karat per 10 grams gold settled at Rs 191,015 within the domestic market.
This fall in Pakistan’s gold prices was in direct correlation with the international market, which also experienced a decrease. On the same day, the global market recorded a drop of $4, resulting in the international gold price ending at $1,962 an ounce.
READ MORE: Gold Prices in Pakistan Witness Unanticipated Drop Amid Currency Devaluation
It is important to note that the gold prices in Pakistan are significantly influenced by the fluctuations in the global rates. As a result, any changes in the international market can have a direct impact on the local gold prices.
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Analysts and investors are keeping a close eye on the market trends and geopolitical factors that might further affect the gold prices in both the domestic and international markets in the coming days. As the situation remains dynamic, stakeholders are advised to exercise caution and stay informed about the developments to make informed decisions regarding gold transactions and investments.
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