Gold prices in Pakistan have experienced a notable decline amid ongoing market fluctuations. As of October 31, 2024, the price of 24-karat gold per tola has dropped by Rs. 700, now standing at Rs. 287,200. Similarly, the price for 10 grams of 24-karat gold has decreased by Rs. 600, bringing it to Rs. 246,228. This decrease is echoed in the international market, where global gold prices fell by $7, now priced at $2,777.
This downward trend in gold prices may provide some relief for consumers and investors, as analysts suggest that the shift could be attributed to changing demand dynamics and recent global economic conditions affecting precious metal prices.
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In contrast, silver prices are on the rise, reaching an all-time high both locally and internationally. 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 divergence in the performance of gold and silver highlights the complexities of the market, where different factors influence each metal’s value.
Additionally, the Pakistan Telecommunication Authority (PTA) has announced plans to introduce three new submarine cables over the next two years to enhance internet connectivity in the country. Consumers should remain vigilant for potential fluctuations in gold and silver rates as market developments continue to unfold.
