June 17, 2023 (MLN): Domestic bullion fell on Saturday, with 24-karat gold reaching Rs221,700 per tola, declining by Rs1,700.
Gold price during the outgoing week fell by Rs5,550 per tola.
According to the Karachi Sarafa Association, the price of 10-gram 24-karat gold reached Rs190,072 per tola, down by Rs1,458.
While 10-gram 22-karat gold stood at Rs174,232 per tola, decreasing by Rs1,337.
Meanwhile, the price of silver remained unchanged in the domestic market, with 24-karat silver to close at Rs2,650 per tola and the price of 10-gram 24-karat silver closing at Rs2,272 per tola.
On the other hand, international spot gold closed the week at $1,957.50 marking a decline of 0.16%.
Moreover, the U.S. dollar index (DXY) marked a decline of 1.21% for the week, this trend might be attributed to the U.S. Fed's decision to pause the interest rates.
Consequently, making dollar-denominated gold cheaper for investors holding other currencies.
Furthermore, International spot silver closed the week at $24.19, marking a decline of 0.36% for the week.
