Gold Price Experiences Decline By Rs1,200 Per Tola In Pakistan  

The cost of 24-karat gold, a valuable and sought-after precious metal, decreased by Rs1,200, reaching a new value of Rs211,800 per tola in Pakistan.

KARACHI: (UrduPoint/UrduPoint / Pakistan Point News-Nov 1st, 2023) The gold prices experienced a decline, with the per tola price dropping by Rs1,200 in the domestic market on Wednesday.

The cost of 24-karat gold, a valuable and sought-after precious metal, decreased by Rs1,200, reaching a new value of Rs211,800 per tola in Pakistan.

Similarly, the price of 10 grams of gold also witnessed a reduction of Rs1,029, ultimately settling at Rs181,584.

In the international market, the value of spot gold exhibited a decrease of 0.

2%, amounting to $1,978.14 per ounce, while U.S. gold futures registered a 0.4% drop, reaching $1,987.10.

In October, spot gold displayed a substantial 7.3% surge, with prices reaching a peak of $2,009.29, marking the highest point in over five months.

As per the analysis of Reuters technical expert Wang Tao, gold is expected to fluctuate within a range of $1,951 to $1,964 per ounce, primarily due to its recurrent inability to breach the resistance level at $2,010.


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