Photonews Logo Photonews logo
  • Home
  • Pakistan
    • Punjab
    • Sindh
    • Khyber Pakhtunkhwa
    • Azad Jammu Kashmir
    • Balochistan
    • Gilgit – Baltistan
  • World
  • Business
  • Entertainment
  • Videos
    Good Fortune trailer
    Videos

    First Trailer for Aziz Ansari’s Good Fortune, Starring Keanu Reeves

    May 29, 2025 2 Min Read
    Last of Us Season 2
    Videos

    ‘The Last of Us’ Season 2 Premieres Date What to Expect From HBO’s Hit Series

    April 13, 2025 2 Min Read
    Disney Snow White box office
    Videos

    Snow White Teaser Drops: Gal Gadot and Rachel Zegler Shine

    February 22, 2025 1 Min Read
  • Sports
  • Technology
  • Offbeat
  • Blog
  • Contact
Reading: Gold Prices in Pakistan Decline by Rs1,700 Amidst Global Downturn
PhotoNews Pakistan PhotoNews Pakistan
Font ResizerAa
Search
  • Home
  • Pakistan
    • Punjab
    • Sindh
    • Khyber Pakhtunkhwa
    • Balochistan
    • Azad Jammu Kashmir
    • Gilgit – Baltistan
  • World
  • Business
  • Entertainment
  • Videos
  • Sports
  • Technology
  • Offbeat
  • Blog
  • Contact
Have an existing account? Sign In
Follow US
© 2022 Photonews. All Rights Reserved.
Gold Prices Pakistan
PhotoNews Pakistan > Business > Gold Prices in Pakistan Decline by Rs1,700 Amidst Global Downturn
Business

Gold Prices in Pakistan Decline by Rs1,700 Amidst Global Downturn

Web Desk
By Web Desk Published December 3, 2024 2 Min Read
Share
A hand showing a 10 Tola bar of Gold. Photo Credits: TOK
SHARE

Gold prices in Pakistan decreased by Rs1,700 to Rs274,500 per tola on Monday, extending the recent downward trend in sync with global markets. According to the All Pakistan Sarafa Gems and Jewellers Association, the price fell by Rs1,100 to Rs276,200 per tola (11.66 grams). Concurrently, international gold prices dropped by $17 to $2,633 per ounce.

Gold prices in Pakistan have witnessed a significant drop on Monday, as rates plunged to Rs 1,700 per tola.

Details: https://t.co/kE75qUigcm#TOKAlert #GoldRate #Pakistan pic.twitter.com/5Ql1XyRJT5

— Times of Karachi (@TOKCityOfLights) December 2, 2024

Adnan Agar, Director of Interactive Commodities, stated that these fluctuations are expected and within typical ranges. He highlighted the lack of significant market-moving events as a reason for the limited price movements, though upcoming US employment data for November could influence future trends. Agar also mentioned that market activity might increase starting in early January with the holiday season approaching.

The Pakistani rupee appreciated slightly by 0.03% in the currency market to close at 277.97 against the US dollar in the interbank market on Monday. This recovery followed a 0.10% decline last week when the rupee slipped below 278 for the first time in over ten weeks.

Malik Bostan, Chairman of the Forex Association of Pakistan, commented on the rupee’s recovery, suggesting it might stabilize further, potentially around 250. He noted that the rupee had rebounded from a dip caused by political unrest on November 24, indicating restored confidence in the government.

Gold prices in Pakistan dropped by Rs1,700 to Rs274,500 per tola on Monday, following a decline in international rates amid a stronger US dollar and profit-taking. https://t.co/7zE9oQ7hPs pic.twitter.com/AHh6gSrmW7

— Investify Pakistan (@investifypk) December 2, 2024

November’s economic indicators also showed positive signs. The trade deficit narrowed by 19% year-on-year to $1.6 billion. While exports rose 9% year-on-year to $2.8 billion, they fell 6% month-on-month. Imports decreased 3% year-on-year and 4% month-on-month to $4.4 billion.

The average inflation rate for the first five months of FY25 was 7.88%, significantly lower than the 28.62% in the corresponding period last year. The Consumer Price Index for November 2024 fell to 4.9% year-on-year from 7.2% in October, bringing the 5-month average to 7.9%, a notable improvement from 28.6% in the previous fiscal year.

Read: Pakistan’s Inflation Drops to 4.9% in November 2024, Marking Six-Year Low

TAGGED:FeaturedGold Prices
Share This Article
Facebook Twitter Pinterest Whatsapp Whatsapp LinkedIn Email Copy Link Print
Leave a comment

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Recent Posts

burj khalifa

Dubai’s Next Mega-Project Could Surpass Burj Khalifa

Oscar Pistorius

Oscar Pistorius Returns to Competition 12 Years After Reeva Steenkamp’s Murder

Garena Free Fire Max codes

Garena Free Fire Max Redeem Codes: Are They Worth the Hype in 2025?

Sydney Sweeney at Echo Valley Premiere

Sydney Sweeney Stuns at Echo Valley Premiere, Navigates Post-Breakup Journey

Stephen A. Smith

Stephen A. Smith Under Fire for Spreading False Brittney Griner Quote

Post Archives

More Popular from Photonews

Ronaldo Nations League 2025 goal
Sports

Cristiano Ronaldo’s 137th Goal Seals Portugal’s Nations League Final Spot

2 Min Read
Sharmishta Panoli Bail
World

Sharmishta Panoli Granted Interim Bail by Calcutta High Court in Operation Sindoor Case

2 Min Read
Jamaat-e-Islami registration Bangladesh 2025
Top NewsWorld

Bangladesh Supreme Court Restores Jamaat-e-Islami’s Party

3 Min Read
Pakistan

Imran Khan Launches Nationwide Protest from Adiala Jail

Pakistan Tehreek-e-Insaf (PTI) founder Imran Khan declared a nationwide protest movement against the Pakistan Muslim League-Nawaz…

June 1, 2025
Sports

Bruno Fernandes Rejects £700K Al-Hilal Offer, Stays with Manchester United

On June 3, 2025, Manchester United captain Bruno Fernandes declined a staggering £700,000-per-week offer from Saudi…

June 3, 2025
Sindh

Salman Farooqi, Bionic Films CEO, Faces Outrage Over Viral Assault Video in Karachi

On June 1, 2025, a disturbing video surfaced on social media showing Salman Farooqi, reportedly the…

June 2, 2025
Entertainment

George RR Martin Addresses ‘The Winds of Winter’ Delay with Sarcastic Blog Post

On May 31, 2025, George R.R. Martin responded to increasing criticism regarding the delayed release of…

June 1, 2025
PhotoNews Pakistan

Always Stay Up to Date

Subscribe to our newsletter to get our newest articles instantly!

Categories

  • World
  • Pakistan
  • Punjab
  • Sindh
  • Khyber Pakhtunkhwa
  • Balochistan
  • Azad Jammu Kashmir

 

  • Top News
  • Business
  • Entertainment
  • Sports
  • Videos
  • Tech
  • Offbeat
  • Blog

© 2024 Phototnews
All Rights Reserved.

Welcome Back!

Sign in to your account

Lost your password?