On Friday, gold rates in Pakistan saw a notable decline, with the price of 24-karat gold falling to Rs239,600 per tola, a decrease of Rs1,400. Dealers also noted a reduction in the price of 10 grams of 24-karat gold, which dropped by Rs1,201 to Rs205,418. Meanwhile, the price of 10 grams of 22-karat gold increased, reaching Rs188,300.
These fluctuations are largely attributed to changes in the US Dollar’s value, highlighting the strong correlation between currency fluctuations and gold prices. Such dynamics illustrate how global economic conditions directly influence local gold markets.
The price of 24-karat silver remained constant at Rs2,620. On the international stage, gold prices also declined by $11, settling at $2,297 per ounce.
