Gold prices in Pakistan have seen a significant decline as market fluctuations continue to impact the precious metals sector. On October 31, 2024, the price of 24-karat gold per tola dropped by Rs. 700, bringing it to Rs. 287,200.
Similarly, the price of 10 grams of 24-karat gold has decreased by Rs. 600, now standing at Rs. 246,228. This downward trend is reflected internationally as well, with the global gold price dropping by $7 to $2,777.
The fall in gold prices may offer some relief to consumers and investors amid an otherwise volatile market. Analysts suggest that the decrease could be due to shifting demand dynamics or recent global economic conditions impacting the prices of precious metals.
In contrast, silver prices continue to surge, reaching an all-time high in both local and international markets. The price of 24-karat silver per tola has increased by Rs. 100, now priced at Rs. 3,450, while the international silver rate stands at $33.56. This stark difference between the performance of gold and silver highlights the complex nature of the market, where varying factors drive each metal’s value.
The Pakistan Telecommunication Authority (PTA) has assured the public that three new submarine cables will be added over the next two years to strengthen internet connectivity. Meanwhile, consumers can expect some fluctuation in the rates of gold and silver, as experts closely monitor market developments.
