Gold rates witness drop in Pakistan

The gold prices in Pakistan once again experienced a dip, taking the cost of 24-karat gold to Rs240,300 per tola after reporting a minor price drop of Rs500.

According to All Sindh Sarafa Jewellers Association, 10 grams of 24-karat gold price witnessed decrease of Rs429 to trade at Rs206,181.

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.

Read more: Gold prices in Pakistan rise after five-day decline

The price of 24-karat silver, however, remained stable at Rs2,800. Internationally also, the gold price witnessed a drop of $4, reaching $2,339 per ounce.