24-karat gold prices dip slightly, silver stays stable

KARACHI: The price of gold in Pakistan saw a marginal decline on Tuesday. According to the latest updates from the Karachi Sarafa Association, 24-karat gold was priced at Rs245,000 per tola, marking a decrease of Rs100 per tola compared to the previous rate.

The reduction in gold prices is noteworthy, as it reflects a calculated adjustment of Rs2,200 below its current market value, influenced by the prevailing economic conditions.

Specifically, the price of 24-karat gold per 10 grammes was reported at Rs210,048, down Rs86 per tola. Meanwhile, 22-karat gold was quoted at Rs192,544 per 10 grammes.

In contrast, silver prices remained steady in the local market. The price of 24-karat silver stood at Rs2,900 per tola and Rs2,486 per 10 grammes.

Internationally, spot gold traded near $2,364 per ounce, showing a modest increase of $2.8 or 0.12 per cent compared to the previous session.

The slight fluctuation in precious metal prices locally and globally reflects ongoing market dynamics amidst varying economic pressures and investor sentiment.

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