Gold rate in Pakistan on 4 May 2024 drops to Rs238,000 per Tola

On Saturday, gold rates in Pakistan continued their significant decline, with the price of 24-karat gold dropping to Rs238,000 per tola after witnessing another decrease of Rs1,600.

Dealers observed a similar downward trend in the price of 10 grams of 24-karat gold, which fell by Rs1,257 to Rs204,047. Additionally, the price of 10 grams of 22-karat gold also experienced a decrease, trading at Rs187,043.

These fluctuations are closely tied to movements in the value of the US Dollar, highlighting the strong correlation between currency fluctuations and gold prices. This underscores how global economic factors impact local gold markets.