The price of gold per tola in Pakistan fell by Rs1,800, marking the fourth consecutive day of decline in sync with a decrease in the global rate.
Data from the All-Pakistan Sarafa Gems and Jewellers Association (APSGJA) revealed that the cost of 24-carat gold dropped by Rs1,800 per tola and Rs1,543 per 10 grams, resting at Rs218,700 and Rs187,500, respectively.
Internationally, the cost of the precious yellow metal dropped by $17, settling at $1,934 per ounce.
Recent fluctuations in gold prices in Pakistan have been attributed to ongoing political and economic uncertainty, high inflation rates, and currency depreciation. Many turn to gold as a reliable investment and a financial safeguard during such uncertain times.
Silver prices also experienced slight losses, as per the association’s data, with a reduction of Rs50 per tola and Rs42.87 per 10 grams, resulting in final prices of Rs2,550 and Rs2186.21, respectively.
In related news, the local currency made slight gains against the dollar, increasing by Rs0.24 or 0.08% to close at Rs286.98 in the interbank market.
