On Monday, the per tola price of 24 karat gold in Pakistan experienced a decline, dropping by Rs.1,200 to reach Rs.214,800, compared to the previous trading day’s rate of Rs.216,000. Similarly, the price of 10 grams of 24 karat gold decreased by Rs.1,029, settling at Rs.184,156 from Rs.185,185. The 10-gram prices for 22 karat gold also saw a decrease to Rs.168,810 from Rs.169,753, as reported by the All Sindh Sarafa Jewellers Association.
Contrastingly, the prices of silver 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 landscape, the Sensitive Price Indicator (SPI) for the week ending February 1 showed a 0.28 percent decrease for combined consumption groups. The SPI, measuring inflation, stood at 317.65 points in Pakistan, a decline from the previous week’s 318.55 points. However, compared to the same week in the previous year, the SPI showed an increase of 39.45 percent. The data covers 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 reflect the dynamic nature of the precious metal market and its impact on broader economic indicators.
