Photonews Logo Photonews logo
  • Home
  • Pakistan
    • Punjab
    • Sindh
    • Khyber Pakhtunkhwa
    • Azad Jammu Kashmir
    • Balochistan
    • Gilgit – Baltistan
  • World
  • Business
  • Entertainment
  • Videos
    IShowSpeed Daniel La Belle race
    Videos

    IShowSpeed Beats Daniel La Belle in 40-Meter Race, Hits 41M Subscribers

    June 24, 2025 2 Min Read
    Cardi B new single Outside
    Videos

    Cardi B’s ‘Outside’ Single Sparks Buzz Over Offset and Stefon Diggs

    June 20, 2025 2 Min Read
    Squid Game Season 3
    Videos

    Squid Game Season 3: Final Trailer Unveils Epic Plot

    June 14, 2025 2 Min Read
  • Sports
  • Technology
  • Offbeat
  • Blog
  • Contact
Reading: Gold Prices Plummet: Pakistan Witnesses Rs4,300 Drop
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 2025
PhotoNews Pakistan > Business > Gold Prices Plummet: Pakistan Witnesses Rs4,300 Drop
Business

Gold Prices Plummet: Pakistan Witnesses Rs4,300 Drop

Web Desk
By Web Desk Published November 26, 2024 2 Min Read
Share
An illustrative image of Gold bars. Photo Credits: Urdu Point
SHARE

Gold prices experienced a notable drop on Monday after a week of gains, reflecting global trends. In Pakistan, precious metal prices decreased by Rs4,300, closing at Rs278,400 per tola (11.66 grams). The All Pakistan Sarafa Gems and Jewellers Association attributed this decline to international factors, noting that gold had peaked at Rs287,900 per tola just last month.

Internationally, gold prices fell by $43, settling at $2,672 per ounce (31.10 grams). Spot gold decreased by 1% to $2,686.73 per ounce after a 2% drop in the session. Similarly, US gold futures declined by 0.9%, closing at $2,688.40.

Gold prices in Pakistan dropped by Rs4,300 to Rs278,400 per tola amid profit-taking after last week's surge, coinciding with a global decline in spot gold prices. https://t.co/voQxim9Jr5 pic.twitter.com/7AaF0gqQW1

— Investify Pakistan (@investifypk) November 25, 2024

This decrease occurred as investors took profits following a five-session rally pushing gold to a three-week high. Additionally, the appointment of Scott Bessent as the new US Treasury Secretary influenced the market, diminishing gold’s appeal as a haven.

UBS analyst Giovanni Staunovo explained that the pullback resulted primarily from profit-taking after the rally and optimism about Bessent’s nomination.

Gold is typically seen as a reliable investment during economic and political uncertainty. However, Bessent’s nomination brought some relief, with analysts predicting that his market savvy and potential tariff policies might reduce the need for safe-haven investments like gold.

Rupee Holds Ground

The Pakistani rupee remained stable on Monday, closing at Rs277.75 against the US dollar in the interbank market, a slight improvement from Rs277.76 on Friday, according to the State Bank of Pakistan. The currency experienced a minor decline of Rs0.09 or 0.03% last week, mainly due to external oil payment pressures.

Globally, the US dollar pulled back from two-year highs as US Treasury yields declined sharply. Following Bessent’s nomination, yields on 10-year Treasuries dropped more than 11 basis points to below 4.3%. The bond market welcomed his appointment, seeing him as a fiscally conservative Wall Street veteran likely to promote stable economic policies. Two-year yields also fell.

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 *

Advertisement

HBL Saving Made Easy
HBL Saving Made Easy

Recent Posts

Sophia Hutchins Death

Sophia Hutchins, Caitlyn Jenner’s Manager, Dies in Tragic ATV Accident at 29

NADRA Ashura 2025 holidays

NADRA Offices Close for Ashura 2025, Sindh Declares Public Holidays

Sindh Number Plates Karachi

Sindh Number Plates Policy Sparks Chaos in Karachi with Delays and Fines

Post Archives

More Popular from Photonews

Imran Khan's Twitter response
Punjab

Lahore Court Reserves Verdict on Shehbaz Sharif’s Defamation Suit Against Imran Khan

2 Min Read
Pakistan PTV Fee
Pakistan

Pakistan to Scrap Rs35 PTV Fee, Offering Relief to Electricity Consumers

3 Min Read
PSX market surge
Business

PSX KSE-100 Surges 1,581 Points as Budget Approval Boosts Sentiment

3 Min Read
Tech

Alibaba’s Taobao Announces $7 Billion Subsidies to Boost China’s Spending

On July 2, 2025, Alibaba’s e-commerce platform Taobao announced a $7 billion subsidy program aimed at…

July 2, 2025
Entertainment

Beyoncé Narrowly Escapes Fall After “Flying Car” Malfunctions

A dramatic moment unfolded during Beyoncé’s Cowboy Carter Tour stop in Houston on June 28, 2025,…

June 30, 2025
Sindh

Loader Truck Hits Parked Aircraft at Karachi Airport

A loader truck collided with a parked cargo aircraft at Karachi’s Jinnah International Airport, prompting the…

June 28, 2025
Pakistan

Pakistan Hit by Third Earthquake in 24 Hours: Magnitude 3.8 Reported

Pakistan experienced its third earthquake in 24 hours on June 29, 2025, with a 3.8-magnitude quake…

June 29, 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?