In a noteworthy development for investors and enthusiasts of the precious metal, gold rates witnessed a decline in Pakistan on Saturday, February 10, 2024. According to the latest figures reported by the All Sindh Sarafa Jewellers Association, the per tola price of 24 karat gold experienced a decrease of Rs.1,200, settling at Rs.214,300. This marks a contrast from its previous sale price of Rs.215,500 on the last trading day.
Similarly, the price of 10 grams of 24 karat gold registered a dip, sliding by Rs.1,028 to Rs.183,728 from Rs.184,756. Meanwhile, the prices of 10 grams of 22 karat gold also witnessed a decline, reaching Rs.168,416 from the earlier Rs.169,360, as reported by the Association.
Interestingly, the price of silver showed stability in the local market, with the per tola and ten grams remaining constant at Rs.2,600 and Rs.2,229.08, respectively.
The Association also highlighted that the decrease in gold prices in the international market contributed to the local trend. The price of gold in the global market experienced an $8 reduction, falling from $2,053 to $2,045.
These fluctuations in gold prices are indicative of the dynamic nature of the precious metals market, influenced by various factors such as international trends, economic indicators, and global demand. Investors and consumers alike will be closely monitoring these changes as they weigh their options in the evolving landscape of precious metal investments. It remains to be seen how these trends will continue to unfold in the coming days, shaping the market sentiment and influencing investment decisions.
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