Pakistan Gold Prices Plummet Amid Global Downward Trend

Gold prices in Pakistan have seen a decline, opening at Rs450,936 per tola for 24-karat gold on Monday, September 28th. This marks a decrease of Rs2,100 from the previous session, following a downward global trend.

The price of 10 grams of 24-karat gold opened at Rs386,604, according to rates issued by the All Pakistan Sarafa Gems and Jewellers Association. In contrast, the international market saw the price of gold open at $4,284 per ounce after falling by $21 in the previous session.

The latest gold rates show that 22-karat gold is priced at Rs413,358 per tola, while 21-karat gold is available at Rs394,568 per tola. The price of 18-karat gold stands at Rs338,202 per tola. Meanwhile, the price of silver per tola fell by Rs60 in the previous session with an opening rate standing at Rs6,903.

Experts warn that gold prices may remain volatile next week due to a combination of international economic developments and local market conditions influencing demand and pricing. Several factors could impact the direction of gold rates, including global economic outlook, US dollar movement, interest-rate decisions, international bullion prices, currency exchange rates, and local buying activity.