Karachi: There was no change in the price of gold in Pakistan on Thursday; however, a decrease was recorded in the rates of silver. The latest rates are important for people planning to buy gold or get jewellery made, as even a minor change can affect the overall cost of the purchase.
According to the rates issued by the All Pakistan Sarafa Gems and Jewellers Association, the price of 24-karat gold per tola in the country remained at Rs 437,836. Similarly, 10 grams of gold was available for Rs 375,373.
The price of 10 grams of 22-karat gold was also recorded at Rs 344,104. These rates can help in estimating the purchase of jewellery; however, the final price at the shops may differ due to the inclusion of workmanship and other costs.
The price of gold in the local market had reached this level after a decline of Rs 3,000 per tola on Wednesday. The rate remaining unchanged on Thursday means that there was no further change after the previous day’s decline.
On the other hand, there was some relief in prices for those buying silver. According to the association, the price of silver per tola decreased from Rs 212 to Rs 6,148. The price of 10 grams of silver also fell by Rs 182 to Rs 5,270.
The price of gold in the global market remained at $4,153 per ounce. Gold prices in the local bullion market can be affected by global prices as well as the value of the rupee and other market factors.
It is important for buyers to find out the latest bullion rates before purchasing jewellery and clarify the quality, weight and making charges of gold separately. This way, they can better compare prices at different stores.
The lack of daily changes in the price of gold does not mean that the prices will remain stable in the future. Prices may go up or down again with changes in the global market and local economic conditions.
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