Karachi (PPI) – Gold prices witnessed a slight decline in Pakistan on Thursday, providing relief to consumers after a recent spike. According to the Karachi Sarafa Association, the price of 24-carat gold dropped by Rs. 500 per tola, settling at Rs. 240,300. The rate for 10 grams of gold also decreased by Rs. 429, now traded at Rs. 206,018.
The dip in gold rates comes a day after prices surged by Rs. 800 per tola in the local market. However, silver prices remained unchanged, with the rate per tola holding steady at Rs. 2,800 and the price per 10 grams maintaining its value at Rs. 2,400.54.
Analysts attribute the fluctuation in gold prices to the dynamic nature of international markets. Last week, the Sarafa Association had temporarily sustained gold prices by offering a discount of Rs. 4,000 per tola. However, with the recent downward trend in global gold prices, the association has now withdrawn the discount.
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Market experts suggest that investors closely monitor the precious metal market, as prices are subject to regular fluctuations influenced by various economic factors and market sentiments.
The latest update on gold and silver rates in Pakistan underscores the volatile nature of the commodity market, emphasizing the need for cautious investment strategies and informed decision-making.
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