Gold prices in Pakistan have drastically dropped.

The price of 24-karat gold dropped by Rs2,000 on Tuesday, when the nation’s gold rates saw a sharp decline. The price of a tola of 24-karat gold was Rs241,900.

10 grammes of 24-karat gold sold for Rs207,390, down Rs1,715, according to dealers, a similar drop in price. Ten grammes of 22-karat gold also saw a price increase, trading at Rs190,108.

As a result of the strong correlation between currency values and gold prices, these fluctuations are directly correlated with shifts in the US dollar’s value. This highlights the effect that factors pertaining to the global economy have on regional gold markets.

It also saw a significant decline in price, down Rs20 to trade at Rs2,630 for 24-karat silver. An ounce of gold now costs $2,316 globally, a significant $19 drop in price.

Important to understand is that, due to fluctuations in the international market, gold prices in Pakistan can change dramatically throughout the day. Reputable sources, mostly situated in Karachi and Multan, are the source of the gold rates supplied.

It is encouraged that people contact their local jewellers and gold merchants for the most accurate and up-to-date information on gold pricing.