KARACHI: The gold rates in Pakistan witnessed a drop on Saturday, after a surge a day earlier, taking the price of 24-karat gold to Rs244,400 per tola after seeing a price rise of Rs600.
Dealers reported a similar decrease in the price of 10 grams of 24-karat gold, which has gone down by Rs514 to Rs209,534. Furthermore, the price of 10 grams of 22-karat gold also showed a spike to trade at Rs192,072.
These movements are closely linked to changes in the value of the US Dollar, indicating the close relationship between currency values and gold prices. This underscores the impact of global economic factors on local gold markets.
The price of 24-karat silver remains stable at Rs2,650. Internationally also, the gold price saw a price fall of $6, reaching $2,337 per ounce.