In a noteworthy development for gold and silver enthusiasts, the prices of precious metals saw a slight decrease on Monday, with 24-karat gold per tola dropping by Rs. 300, and silver also experiencing a decline.
The All Sindh Sarafa Jewellers Association reported that the price of 24-karat gold fell to Rs. 289,100 per tola, from Rs. 289,400 on the previous trading day.
Despite this decrease, the price still remains just below the all-time high of Rs. 289,600 per tola recorded last week.
24-Karat Gold Prices
Gold prices have always been a reliable indicator of economic stability and global market sentiment. The fluctuations in the price of 24-karat gold are influenced by various global factors, including inflation rates, currency devaluation, and geopolitical uncertainties.
- Current Price of 24-Karat Gold: Rs. 289,100 per tola
- Previous Price of 24-Karat Gold: Rs. 289,400 per tola
- All-Time High of 24-Karat Gold: Rs. 289,600 per tola (Last Week)
10 Grams of Gold
The price of 10 grams of 24-karat gold also experienced a slight decrease on Monday. The current price stood at Rs. 247,856, down by Rs. 257 from the previous day's rate of Rs. 248,113. This marks a small but noticeable reduction in the value of gold, following the overall trend in the market.
Similarly, the price of 10-gram 22-karat gold saw a rise, increasing by Rs. 236 from the previous rate of Rs. 227,445 to Rs. 227,209.
Silver Prices
As expected, silver prices followed the trend of gold and experienced a slight drop in the market. The price of per tola silver decreased by Rs. 14, bringing the current rate down to Rs. 3,395. In parallel, the price of ten-gram silver also went down by Rs. 12, marking a shift to Rs. 2,910.
These changes highlight the ongoing correlation between gold and silver prices, although silver tends to be more volatile.
- Current Price of Per Tola Silver: Rs. 3,395
- Previous Price of Per Tola Silver: Rs. 3,409
- Current Price of Ten-Gram Silver: Rs. 2,910
- Previous Price of Ten-Gram Silver: Rs. 2,922
Gold Market Trends
The price of gold in the international market has also seen a slight decline. According to the All Sindh Sarafa Jewellers Association, the price of gold dropped by $3, from $2,770 to $2,767.
This decrease in the global price reflects a modest correction, potentially driven by various factors including changes in the US dollar's strength, interest rates, and fluctuations in the demand for gold as a safe-haven asset.
