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In a surprising turn of events, Pakistan’s gold market witnessed a significant decline in gold prices on Thursday, with the tola rate falling sharply by Rs2,200 to settle at Rs261,500. This drop defies the global gold price trend, which saw an increase on the same day. According to the All-Pakistan Gems and Jewellers Sarafa Association (APGJSA), the price of 10 grams of gold also decreased by Rs1,886, now valued at Rs224,194.
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Meanwhile, the international gold market experienced a surge, with prices reaching $2,516 per ounce and an additional premium of $20, marking a $4 increase during the trading session. In contrast, silver prices in the local market remained unchanged, maintaining a stable rate of Rs2,950 per tola.
The fluctuating gold prices in Pakistan’s local market continue to be influenced by the ongoing dynamics of the international market, coupled with domestic factors such as currency exchange rates and internal demand. Stay updated on gold rates in Pakistan and global market trends.