Karachi, June 19, 2023: The gold rate in Pakistan experienced a significant drop on Monday, with a decline of Rs 1,000 attributed to the downward trend in international markets.
The price of 24-karat gold per tola fell by Rs 1,000, closing at Rs 220,700 compared to the previous day’s closing of Rs 221,700. Similarly, the rate for 24-karat gold per 10 grams decreased by Rs 858, ending at Rs 189,214 in the local markets compared to Rs 190,072.
READ MORE: Gold Rates Ease in Pakistan Following International Market Decline
Likewise, the price of 22-karat gold per 10 grams witnessed a decline of Rs 785, finishing at Rs 173,447 as opposed to the previous closing rate of Rs 174,232.
In the international market, the price of gold experienced a decrease of $7, closing at $1,951 per ounce in comparison to the previous day’s closing rate of $1,958.
READ MORE: Gold Prices in Pakistan Soar by Rs2,700 per Tola on June 16
Contrary to gold, the silver rates in the local market remained unchanged despite the decline in international markets. The price of 24-karat silver per tola and per 10 grams remained steady at Rs 2,650 and Rs 2,271.94, respectively.
However, in the international market, the silver rates eased by 13 cents, closing at $24.07 per ounce, in comparison to the previous reading of $24.20.
READ MORE: Gold Prices Surge in Pakistan to Rs220,700 per Tola despite International Rate Fall
The decline in the gold rate in Pakistan can be attributed to the overall downward trend in the international gold market. Various factors such as fluctuations in the global economy, changes in investor sentiment, and market dynamics can impact the price of gold.
READ MORE: Gold Prices Plummet in Pakistan amid Global Market Decline
Investors and individuals interested in gold trading are advised to closely monitor the international and local market trends, as these factors can significantly influence the gold rates. It is recommended to seek advice from financial professionals before making any investment decisions.
