Gold prices in Pakistan drop following downturn internationally
November, 11 2024
Karachi (Suno News): In the local market, the price of gold per tola decreased by Rs1,300, to Rs277,500. The gold rates saw decline on Monday after remaining unchanged in the previous session.
The 10-gram gold decreased by Rs1,115 and sold at Rs237,911, according to the All-Pakistan Gems and Jewellers Sarafa Association (APGJSA).
Internationally, gold prices dipped by $13 to $2,670 per ounce (with a $20 premium) on Monday. In contrast, silver prices remained steady at Rs3,300 per tola.
Last month, gold reached an all-time high of Rs287,900 per tola in Pakistan, driven by Middle East conflicts and US election uncertainty, which boosted demand for safe-haven assets. Globally, gold prices remained stable in early Asian trade, awaiting Federal Reserve officials comments and economic data to gauge the US interest rate outlook.
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