The price of 24 karat gold per tola dropped significantly by Rs2,245, settling at Rs359,055 on Wednesday. This marks a noticeable dip from the last recorded price of Rs361,300, according to the All Pakistan Sarafa Gems and Jewelers Association.
The price of 10 grams of 24 karat gold also slid by Rs1,925, reaching Rs307,831, down from Rs309,756. For 22 karat gold, 10 grams fell by Rs1,765, from Rs283,953 to Rs282,188.
In a curious contrast, silver prices climbed. The rate of silver per tola rose by Rs22, settling at Rs3,878. Similarly, the price for 10 grams increased by Rs19 to Rs3,324.
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On the international front, gold saw a $20 decrease, dropping from $3,398 to $3,378 per ounce. Interestingly, silver gained $0.22, rising to $37.20.
This contrasting price movement—gold falling while silver rises—reflects a jittery sentiment in both global and local markets. Investors may be shifting toward silver as a short-term hedge while global pressures affect gold prices. Traders should watch closely for further fluctuations, especially as international geopolitical and economic conditions continue to evolve.
