After maintaining stability, a day earlier, the price of gold in Pakistan experienced a decline on Thursday, settling at Rs. 213,800 per tola. Data released by the Karachi Sarafa Association indicates a decrease of Rs. 1,400 per tola for gold (24 carats), bringing it to Rs. 213,800. Similarly, the price of 10 grams witnessed a drop of Rs. 1,200, settling at Rs. 183,400.
Also Read: Gold Price in Pakistan Drops for Third Successive Day
Earlier in the week, the local market saw a reduction of Rs. 600 per tola on Monday, but the precious metal recovered most of the losses on Tuesday with a rise of Rs. 500 per tola. There was no change in gold prices on Wednesday.
In the international market, spot gold experienced a 0.2 percent increase, reaching $2,015.83 per ounce by 0424 GMT, while US gold futures remained unchanged at $2,015.80. The fluctuations in gold prices are influenced by various factors, including global economic conditions, geopolitical events, and investor sentiment. The local gold market is responsive to these international dynamics, leading to variations in gold prices in Pakistan.
