Gold rates in Pakistan drop due to international market surge

Gold rates in Pakistan experienced a slight decline on Saturday, following a record high above Rs250,000 per tola earlier in the day. The drop was attributed to the surge in international market rates. According to data from the Sarafa association, there was a decrease of Rs600 per tola, bringing the new rate to Rs244,400. Similarly, the price of 10 grams of gold saw a decrease of approximately Rs514, with the new price settling around Rs209,534.

On the same day, silver prices were reported at Rs2,650 per tola and Rs2,371.94 per ounce. The previous day had seen a significant increase in the price of 24 karat gold per tola, rising by Rs2,500 to reach Rs245,000 on Friday, up from Rs242,500 in the previous trading session. Additionally, the price of 10 grams of 24 karat gold also saw an increase of Rs2,143, climbing from Rs207,905 to Rs210,048.

These fluctuations in gold and silver prices reflect the volatility in the global market, influenced by various economic factors and geopolitical events. Investors and consumers alike are advised to stay informed about the latest developments to make well-informed decisions regarding their investments and purchases.