Karachi, September 5, 2023 – Gold prices in Pakistan experienced a significant decline on Tuesday, following a global downward trend in international markets.
This notable decrease in gold rates has caught the attention of investors and consumers alike.
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In the local market, the price of 24-karat gold per Tola dropped by Rs 6,300, reaching Rs 232,800. Similarly, the rate for 24-karat gold per 10 grams decreased by Rs 5,402, closing at Rs 199,588.
Market experts attribute this decline in gold rates in domestic markets to the broader falling trend witnessed in global markets. The international gold market recorded a decrease of $9, with the precious metal ending the day at $1,931 per ounce.
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While gold prices registered a noteworthy drop, the exchange rate of the Pakistani Rupee (PKR) continued its decline, reaching a new historic low of PKR 307.10 against the US dollar at the closing of the interbank foreign exchange market.
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The simultaneous decline in both gold prices and the value of the Pakistani Rupee against the US dollar reflects the interconnectedness of global financial markets. These developments are closely monitored by investors, traders, and economic analysts for their potential impact on Pakistan’s economy and the broader financial landscape.
