“Latest Gold Prices in Pakistan Show a Decline”

Monday witnessed a decline in the price of 24 karat gold per tola in Pakistan, with a drop of Rs.1,200, bringing it down to Rs.214,800 compared to the previous day’s rate of Rs.216,000.Likewise, the price of 10 grams of 24 karat gold saw a decrease of Rs.1,029, settling at Rs.184,156 compared to its previous rate of Rs.185,185. The prices for 10 grams of 22 karat gold also experienced a decrease to Rs.168,810 from Rs.169,753, as reported by the All Sindh Sarafa Jewellers Association.

In contrast, silver prices remained unchanged, with per tola and ten grams priced at Rs.2,600 and Rs.2,229.08, respectively. Internationally, the price of gold dipped by $11, reaching $2,048 from $2,059.

In the economic sphere, the Sensitive Price Indicator (SPI) for the week ending February 1 depicted a 0.28 percent decrease for combined consumption groups. The SPI, which gauges inflation, stood at 317.65 points in Pakistan, down from the previous week’s 318.55 points. Nonetheless, compared to the same week in the previous year, the SPI exhibited an increase of 39.45 percent. The data encompasses 17 urban centers and 51 essential items, with the SPI for the lowest consumption group witnessing a decrease of 0.85 percent, dropping to 310.42 points.

These fluctuations underscore the dynamic nature of the precious metal market and its influence on broader economic indicators.

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