Gold Prices Drop by Rs 2,400 Per Tola in Pakistan
Karachi: The price of gold in Pakistan has decreased by Rs 2,400 per tola, according to the All Pakistan Gems and Jewellers Association.
After the latest decline, the price of 24-karat gold per tola now stands at Rs 475,362.
The association further reported that the price of 10 grams of gold also fell by Rs 2,057, bringing it down to Rs 475,546.
In the international market, gold prices dropped by $24 per ounce, settling at $4,530 per ounce.
Market analysts say gold prices continue to fluctuate due to changes in global economic conditions, currency movements, and investor demand for safe-haven assets.
Local jewellers noted that domestic prices in Pakistan generally follow international market trends along with fluctuations in the Pakistani rupee’s exchange rate against the US dollar.
Experts suggest that uncertainty in global financial markets often leads to volatility in gold prices, as investors shift between riskier assets and safer investments like precious metals.
The recent decline may provide some short-term relief for buyers in the local jewellery market, although long-term price trends remain uncertain depending on global economic indicators and geopolitical developments.
What’s your Reaction?
+1
+1
+1
+1
+1
+1
