Gold Rate in Pakistan Falls by Rs500 per Tola

Gold price in Pakistan dropped by Rs500 per tola on Tuesday, with 24-karat gold now selling at Rs283,200 per tola. This decline is part of a recent trend as gold prices fluctuate due to market uncertainty and global events.

According to the Karachi Sarafa Association, 24-karat gold per 10 grams also decreased, down by Rs429, bringing it to Rs242,798. In comparison, 22-karat gold now costs Rs222,565 per 10 grams. Meanwhile, silver prices in Pakistan have remained steady, with 24-karat silver priced at Rs3,430 per tola and Rs2,941 per 10 grams, showing no change.

Gold Price Changes in the Global Market

Globally, the price of spot gold traded around $2,737 per ounce, up by a modest $0.9, or 0.03%, from the last session. Investors around the world are paying close attention to key events, including the upcoming U.S. presidential election and a Federal Reserve policy decision, which could affect global gold prices in the coming days.

U.S. Election’s Possible Effect on Gold Prices

Analysts say that the results of the U.S. The election could strongly influence gold prices. Han Tan, a chief market analyst at Exinity Group, suggests that most traders are waiting to see how the election unfolds before making any big moves. If Harris wins, her low-interest-rate policies might lead to a rise in gold prices. However, if Trump wins and the dollar strengthens, gold demand may weaken. Tan predicts that gold could eventually reach the $2,800 mark “once the dust settles” following the U.S. election.

Summary of Gold and Silver Prices (in PKR)

The price of gold and silver in Pakistan shows a mixed trend, with gold prices influenced by both local demand and international developments, while silver remains steady.

For more information on precious metals in Pakistan, you can visit Daily Gold Signal’s official website and the Daily Gold Updates section.