All Sindh Sarafa Jewellers Association confirms this downturn, revealing that the tola price settled at Rs220,500.
KARACHI: (UrduPoint/Pakistan Point News-Dec 1st, 2023) A major shift was observed in local gold prices as they underwent a decrease, with a Rs500 reduction in the tola price.
The latest reports said that the All Sindh Sarafa Jewellers Association confirmed this downturn, revealing that the tola price settled at Rs220,500.
The price of 10 grams of 24-karat gold also experienced a decline of Rs429, ultimately being priced at Rs189,043.
On the global front, the international gold market witnessed a $4 increase, bringing the yellow metal's rate to $2060. These fluctuations occur against the backdrop of gold prices gearing up for a third consecutive weekly surge.
This surge is attributed to data indicating a moderation in inflation, reinforcing expectations for a potential rate cut in the United States.
