The price of gold in Pakistan experienced a notable decline on Thursday. The price of 24-karat gold decreased by Rs2,600 per tola, making it Rs273,300. This change, shared by the All-Pakistan Gems and Jewelers Sarafa Association (APGJSA), reflects a notable adjustment in the market.
Gold Price in Pakistan Decline
The price of 24-karat gold for 10 grams dropped to Rs234,311, a decrease of Rs2,229. Similarly, 22-karat gold rates were reported lower at Rs214,785 per 10 grams. This decline has created a buzz among investors and consumers, highlighting fluctuating trends in the precious metals market.
Silver Prices Also Drop
In addition to gold price, silver prices experienced a dip. The price of 24-karat silver dropped to Rs3,350 per tola, a decrease of Rs50. For 10 grams, silver was sold at Rs2,872, a reduction of Rs43. This downward movement indicates a broader trend in the local metals market.
Global Market Update
On the international front, spot gold prices rose, trading near $2,620 per ounce. This increase of $32.1, equivalent to a 1.24% gain, highlights contrasting trends between global and domestic markets. Despite a rise globally, local prices continue to face downward pressure. February futures contracts also indicate sustained declines for the fourth consecutive session.
Detailed Data Comparison
| Metal | Date | Price (Rs) | Change (Rs) | 1-Month Change (Rs) | FYTD Change (Rs) | CYTD Change (Rs) |
|---|---|---|---|---|---|---|
| Gold | Dec 19, 2024 | 273,300 | -2,600 | -1,000 | 31,600 | 53,300 |
| Silver | Dec 19, 2024 | 3,350 | -50 | 100 | 500 | 670 |
Conclusion
The recent drop in gold and silver prices in Pakistan reflects dynamic market conditions. Investors are advised to keep a close eye on these trends to make well-informed choices. Stay updated with accurate and timely insights by visiting our Daily Gold Signal website. For comprehensive updates, explore our Daily Gold Update section.
