Gold prices in Pakistan went down slightly on Wednesday. The price of 24-karat gold fell by Rs300, bringing it to Rs248,200 per tola. This drop also shows that the current gold price is Rs4,000 lower than its actual value due to reduced purchasing power in the country. The Karachi Sarafa Association confirmed that the price for 24-karat gold per 10 grams decreased by Rs236, making it Rs212,791. Meanwhile, 22-karat gold is now priced at Rs195,059 per 10 grams.
Silver Prices Stay Unchanged
Unlike gold, silver prices stayed the same in the local market. The price for 24-karat silver remains at Rs2,850 per tola and Rs2,443.41 per 10 grams. While gold prices have fluctuated, silver has remained stable, offering some consistency for investors.
International Gold and Silver Market
Globally, spot gold was trading close to $2,418.3, which is a 0.11% drop for the day. A big reason for this dip is that China’s demand for gold has slowed down. According to recent data, China imported 136 tons of physical gold in April, a 30% drop from the previous month. This decrease is because high prices have reduced consumer demand for gold.
Meanwhile, silver prices in the global market are near an 11-year high. This increase in silver prices is driven by strong interest from investors, good economic conditions, and expectations that silver supply will continue to fall short of demand for the fourth year in a row.
This article covers the small drop in gold prices in Pakistan, the stability of silver, and international trends in gold and silver. For more updates on gold prices and market news, visit the Daily Gold Signal. You can also explore the latest insights in the Daily Gold Update.
