KARACHI – Gold Rates on Domestic bullion fell on Friday, with 24-karat gold reaching Rs222,400 per tola, decreasing by Rs400.

As per the Karachi Sarafa Association, the cost of 10 grams of 24-karat gold was registered at Rs190,672 per tola, witnessing a Rs343 fall per tola.

The cost of 10-gram 22-karat gold stood at Rs174,783 per tola, whereas the price of silver remained steady in the local market, closing at Rs2,750 per tola for 24-karat silver.

On a global scale, the current trading price for international spot gold is $1,916.26, showing a 0.21% increase for the day. Meanwhile, international spot silver is trading at $22.68, remaining mostly unchanged throughout the day.

In terms of the U.S. consumer price index (CPI), the data for July 2023 indicates a 3.2% year-on-year increase, a slight uptick from the 3% YoY observed in June. This figure, although slightly below analysts’ expectations of 3.3%, suggests a decrease in the pace of inflationary growth in the world’s largest economy.

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