On Monday, the gold prices in Pakistan saw a major fall, taking the cost of 24-karat gold to Rs226,900 per tola after reporting a decline of Rs600.
Dealers observed a corresponding drop in the price of 10 grams of 24-karat gold, which also saw a price drop of Rs515, now trading at Rs194,530. Similarly, the price of 10 grams of 22-karat gold also saw a downward trend to trade at Rs178,319.
These fluctuations are closely linked to changes in the value of the US Dollar, indicating the intricate relationship between currency values and gold prices. This underscores the influence of global economic factors on local gold markets.
The price of 24-karat silver also witness slight dip and currently trading at Rs2,580. Internationally also, the gold price saw a small decline of $5, reaching $2,170 per ounce.