Gold price in Pakistan saw another sharp slip on Thursday following a cut in global rates.
According to the All Pakistan Sarafa Gems and Jewellers Association, the price of 24-carat gold fell by a massive Rs3,500 per tola, bringing it down to Rs433,862.
In the local market, the price of 10 grams of 24-carat gold decreased by Rs3,001, settling at Rs371,966. Similarly, 10 grams of 22-carat gold were sold at Rs340,981, down by a good Rs2,751 compared to the previous day.
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On the international front, gold dropped by $35, reaching $4,115 per ounce, reflecting a consistent downward trend driven by strengthening global currencies and cautious investor sentiment.
Silver also declines
Silver prices, however, remained stable. The rate of 24-karat silver per tola remained Rs5,110, while 10 grams of silver was still available for Rs 4,381.
Analysts note that fluctuations in the interbank exchange rate and uncertainty in global demand continue to impact precious metal prices in Pakistan. Investors are expected to watch both currency movements and international gold market trends closely in the coming days.
