The price of 24 karat gold decreased by Rs. 700 per tola and was traded at Rs. 359,000 on Tuesday as compared to its sale at Rs. 359,700 on the last trading day, All Pakistan Sarafa Gems and Jewelers Association reported.
It is pertinent to mention here that the price of the precious metal rose by Rs. 8,200 per tola during the last four day, taking it close to the Rs. 360,000 milestone.
The prices of 10 grams of 24 karat also decreased by Rs. 600 to Rs. 307,784 from Rs. 308,384 and for 10 grams of 22 Karat it went down by Rs. 550 to Rs. 282,145 from Rs. 282,695.
The rates of per tola and ten-gram silver decreased by Rs. 73 and Rs. 62 to Rs. 4,014 and Rs. 3,441 respectively.
The price of gold in the international market decreased by $7 to $3,365 from $3,372 whereas that of silver decreased by $0.73 to $38.30 from $39.03, the Association reported.
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Gold is ruling global markets these days defeating the strong international trading currency i.e. US Dollar. It is in fact a good sign in that an old precious metal has proved its everlasting worth over paper currency. It is foreseen that the rate of gold will rise further establishing an unbreakable world record within a next few months!