LAHORE: Due to the significant drop in gold prices in Pakistan, the attention of investors and buyers in the bullion market has been focused on the prices of precious metals. Along with the decline in the value of gold in the global market, silver prices have also come under pressure.
The price of gold in the global market has decreased to around $4,020 per ounce, while the prices of precious metals continued to fluctuate internationally.
There has been a difference in different market reports regarding the prices of gold and silver in Pakistan. According to a report dated October 23, gold was recorded at Rs 431,536 per tola, while 10 grams of gold was recorded at Rs 369,972.
The price of silver was also reported to be between Rs 6,086 and Rs 6,161 per tola in various reports after the decline in the local market. The difference in prices may be due to market updates issued at different times.
The reasons for the decline in global gold prices include expectations of US interest rates, inflation concerns and global economic conditions. Rising crude oil prices have also increased uncertainty in financial markets.
Due to changes in bullion market rates, buyers should confirm the latest price with local jewelers before buying gold or silver, as the final price of the jewelry may also include purity, manufacturing costs and other factors.
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