The gold market witnessed a significant drop in prices today, 25th July 2024, providing some relief to buyers. According to the All Sindh Sarafa Jewellers Association, the price of 24 karat gold per tola decreased by Rs. 2,300, settling at Rs. 250,500. This is a notable decline from the previous trading day when the price was Rs. 252,800.
Decrease in Gold Prices
- Per Tola of 24 Karat Gold:
- New Price: Rs. 250,500
- Previous Price: Rs. 252,800
- Decrease: Rs. 2,300
- 10 Grams of 24 Karat Gold:
- New Price: Rs. 214,763
- Previous Price: Rs. 216,735
- Decrease: Rs. 1,972
- 10 Grams of 22 Karat Gold:
- New Price: Rs. 196,866
- Previous Price: Rs. 198,674
- Decrease: Rs. 1,808
Silver Prices Also Decline
The price of silver also saw a decrease today:
- Per Tola of Silver:
- New Price: Rs. 2,860
- Previous Price: Rs. 2,920
- Decrease: Rs. 60
- 10 Grams of Silver:
- New Price: Rs. 2,451.98
- Previous Price: Rs. 2,503.42
- Decrease: Rs. 51.44
International Market Trends
The decrease in local gold prices aligns with trends in the international market. The price of gold in the international market dropped by $43, bringing it down to $2,413 from $2,470.
Market Analysis
Today’s drop in gold prices can be attributed to several factors, including fluctuations in the international market and changes in investor sentiment. The decrease may encourage more buyers to invest in gold, seeing it as a valuable opportunity to purchase at lower rates.
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