Gold rates fall by Rs400 per tola in Pakistan

On Friday, domestic gold bullion prices decreased, with 24-karat gold falling by Rs400 to reach Rs222,400 per tola.

The price of 10 grams of 24-karat gold, according to the Karachi Sarafa Association, was Rs190,672 per tola, a decrease of Rs343 per tola.

In contrast, the price of silver held stable in the local market, closing at Rs2,750 per tola for 24-karat silver. The price of 10-gram 22-karat gold was Rs174,783 per tola.

Globally, the price of international spot gold as of today’s trading is $1,916.26, representing a daily increase of 0.21%. International spot silver is currently trading at $22.68, having largely remained constant throughout the day.

The results for the U.S. consumer price index (CPI) for July 2023 show a 3.2% year-over-year increase, which is a small improvement above the 3% YoY seen in June. This number, however slightly below economists’ projections of 3.3%, points to a slower rate of inflationary increase in the biggest economy in the world.

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