KARACHI – Gold prices witnessed major decline both in local and international markets today on Tuesday, bringing some relief to buyers after weeks of steady increases.
In global market, bullion prices dropped by $15 per ounce, bringing the new rate to $3353 per ounce. The dip in global rates directly impacted local prices across Pakistan.
According to market sources, the price of 24-karat gold per tola fell by Rs. 1,500, now standing at Rs. 358,000. Similarly, the price of 10 grams of gold saw a reduction of Rs. 1,286, bringing the new price to Rs. 306,927.
Gold Rates in Pakistan
| Gold Type | Price Drop | New Price |
|---|---|---|
| 24-Karat Gold (per tola) | 1,500 | 358,000 |
| 24-Karat Gold (10 grams) | 1,286 | 306,927 |
Gold Rates This Week
| Dates | Price |
| 4-August | Rs359,500 |
| 2-August | Rs359,000 |
| 1-August | Rs352,900 |
| 31-July | Rs353,000 |
| 30-July | Rs355,000 |
| 29-July | Rs354,700 |
| 28-July | Rs356,300 |
However, unlike gold, silver prices saw an uptick. The price of one tola of silver increased by Rs. 18, reaching Rs. 3,971.
Market analysts attribute the decline in gold prices to fluctuations in the global economy, changes in investor sentiment, and a strengthening dollar.
