Gold Prices in Pakistan Decrease, Silver Remains Stable

On May 4, 2024, the price of 24 karat gold in Pakistan saw a decrease in value. The per tola price dropped by Rs.1,600, selling at Rs. 238,000 compared to Rs. 239,600 on the previous trading day. Similarly, the price of 10 grams of 24 karat gold decreased by Rs.1,257 to Rs. 204,047. In contrast, the prices of 10 gram 22 karat gold rose to Rs.187,043, as reported by the All Sindh Sarafa Jewellers Association.

Meanwhile, the price of silver remained stable, with per tola and ten gram silver holding at Rs. 2,620 and Rs. 2,254.80, respectively. Internationally, the price of gold experienced a slight increase of $4, reaching $2,301 from $2,297.

Gold prices are influenced by various factors such as global economic conditions, geopolitical events, and market demand. Investors often turn to gold as a safe-haven asset during times of uncertainty, which can impact its value in both domestic and international markets.

The fluctuation in gold prices in Pakistan reflects the dynamic nature of the precious metal market. While the decrease in prices may be beneficial for buyers, it also highlights the volatility and sensitivity of gold prices to external factors.