In a notable shift, the per tola price of 24 karat gold witnessed a substantial decrease, plummeting by Rs.1,900 and settling at Rs.216,100 on Monday. This marks a notable contrast from its previous rate of Rs.218,000 on the last trading day.
The local market also observed a decline in the price of 10 grams of 24 karat gold, down by Rs.1,629 to Rs.185,271 from its previous rate of Rs.186,900. Additionally, the prices of 10 grams of 22 karat gold experienced a dip, now standing at Rs.169,832 compared to the previous Rs.171,325, as reported by the All Sindh Sarafa Jewellers Association.
While gold took a dip, the silver market remained relatively stable, with the price of per tola and ten grams holding steady at Rs.2,660 and Rs.2,280.52, respectively.
The Association also shed light on the international market dynamics, reporting a decrease in the price of gold by $18. The new international rate stands at $2,047, down from its previous mark of $2,065.
The fluctuation in gold prices, both in the local and international markets, prompts market observers and investors to closely monitor these developments. Analysts suggest that various factors, including global economic conditions and geopolitical events, may contribute to these shifts in precious metal prices. As the market continues to respond to these changes, stakeholders remain vigilant to capitalize on potential opportunities arising from the evolving trends in the gold market.
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