Gold prices drop by Rs400 per tola in Pakistan

MG News | August 11, 2023 at 05:31 PM GMT+05:00

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August 11, 2023 (MLN): Domestic bullion fell on Friday, with 24-karat gold reaching Rs222,400 per tola, decreasing by Rs400.

As per the Karachi Sarafa Association, the cost of 10 grams of 24-karat gold was registered at Rs190,672 per tola, witnessing a Rs343 fall per tola.

While 10-gram 22-karat gold stood at Rs174,783 per tola.

Contrarily, the price of silver remained unchanged in the domestic market, with 24-karat silver to close at Rs2,750 per tola.

On the global front, international spot gold is currently trading at $1,916.26 up by 0.21% on the day.

Meanwhile, international spot silver is currently trading at $22.68, almost flat on the day.

The U.S. consumer price index (CPI) for the month of July 2023 came in at 3.2% YoY, slightly higher than 3% YoY in June. However, it was softer than the analysts’ estimates of 3.3%, showing a moderation in the inflationary momentum in the world’s largest economy.

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