Gold Prices Decline in Pakistan

Gold prices in Pakistan saw a huge drop today on 18th April. The cost of 24 karat gold per tola went down by Rs 1,700. Now its selling at Rs 250,200 compared to Rs 251,900 yesterday. Similarly, the price of 10 grams of 24 karat gold decreased by Rs 1,458, selling at Rs 214,506 instead of Rs 215,964. The 22 karat gold also dropped to Rs 196,631 from Rs 197,238. This information was provided by the All Sindh Sarafa Jewellers Association.

On the international front, the price of gold went down by $17 to $2,395 from $2,412. This change in prices comes after the U.S dollar got low and increased investor interest in gold due to concerns about the Escalating conflict in the Middle East. Apart from this, there’s also rumors that there might be few rate cuts in the United States this year, which could affect gold prices.

According to Reuters the price of gold has increased in speed and reached $2,379.33 per ounce today, up by 0.8%. Last Friday, it had even hit an all-time high of $2,431.29. Meanwhile, U.S. gold futures saw a 0.2% increase, reaching $2,393.70.


Read More: Gold Prices Hike In Pakistan

Xiao Fu, an analyst from the Bank of China International BOCI also mentioned that the weakening United States dollar has been supporting the rise in precious metal prices.  Other factors such as Geopolitical tensions and Central Bank changing strategies have also play a role in the increase in gold prices.

Read More: Gold Rates Dip in Pakistan: A Glance at Recent Price Declines

In Pakistan, the prices of silver is same, there is no different in the price of silver. Now its selling with the per tola and ten-gram silver selling at Rs 2,780 and Rs 2,383.40 respectively. While gold prices may changes due to various reasons. They are very imported for the investors and buyers as well. as everyone knows how big the market is and how people love to buy Gold.