Monday, July 22, 2024

Gold Price Drop 3rd Day in a Row, Here’s Today Rate

Gold prices in Pakistan have been decreasing for the past three days. On Wednesday, the price of gold dropped by Rs1,800 per tola, closing at Rs218,700.

The price of 10 grams of 24-carat gold also decreased by Rs1,543, settling at Rs187,500. The international market also saw a decline, with the price per ounce falling by $17 to $1,934.

In contrast, the price of silver remained unchanged at Rs2,650 per tola and Rs2,271.94 for 10 grams.Several factors contribute to the fluctuation in gold prices, including the global economic situation, currency fluctuations, and the performance of major economies. The decline in gold prices attracts investors and individuals in the gold trade, as it presents an opportunity to buy gold at a lower rate.

Gold is considered a safe-haven investment during times of economic uncertainty and market volatility. It holds value for its aesthetic appeal and acts as a hedge against inflation.The All-Pakistan Sarafa Gems and Jewellers Association (APSGJA) provides information on gold and silver prices in Pakistan, promoting transparency and fair practices in the industry.

Market participants will closely monitor gold price trends to understand their impact on the economy and investment landscape. It is important to stay informed and adapt to changing market conditions in the gold market.

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