Islamabad, Nov 5: Gold Price in Pakistan drop further
The cost of 24 karat gold per tola dropped by Rs.500, being sold at Rs.283,200 on Tuesday, November 5, 2024, compared to its previous sale price of Rs.283,700 on the last trading day.
The Gold Price in Pakistan 10 grams of 24 karat gold also fell by Rs.429, bringing it down to Rs.242,798 from Rs.243,227, while the 10-gram price of 22 karat gold decreased to Rs.222,565 from Rs.222,958, according to the All-Sindh Sarafa Jewelers’ Association.
The prices for both per tola and ten grams of silver remained steady at Rs.3,430 and Rs.2,940.67, respectively.
The international market saw a decline in gold prices, dropping by $5 to reach $2,736, as reported by the Association.
On Monday, there was an increase in gold prices due to uncertainty surrounding the US elections, with markets adjusting for the potential of a disputed outcome and rising political tensions, while investors remained attentive to the upcoming Federal Reserve policy meeting later this week. As of 9:45 a.m. ET (1445 GMT), spot gold experienced a 0.4% increase, reaching $2,745.29 per ounce, after peaking at a record high of $2,790.15 the previous Thursday. US gold futures saw a 0.2% rise, bringing the price to $2,754.80.
The US presidential election is on Tuesday, with opinion polls showing Democratic candidate Kamala Harris and Republican Donald Trump neck and neck in the race to the White House.
