Gold prices in Pakistan have declined for four consecutive days, aligning with the trends in the international market. The All-Pakistan Sarafa Gems and Jewellers Association (APSGJA) reports that the price of 24-karat gold dropped by Rs 5,800 per tola and Rs 4,972 per 10 grams, now priced at Rs 216,500 and Rs 185,614, respectively.
The yellow metal’s price decreased by $5 in the global market, settling at $1,921 per ounce. This volatility in gold rates in Pakistan stems from ongoing political unrest, economic instability, and rising inflation.
In addition, silver prices also witnessed a decrease, with 24-karat silver reducing by Rs 50 per tola and Rs 42.87 per 10 grams, now standing at Rs 2,650 and Rs 2271.94, respectively.
Rupee Recovers
On a positive note, the Pakistani Rupee seems to be recovering, appreciating by Rs 2.03 against the US dollar in interbank trading, closing at Rs 304.94. This recovery is attributed to the effective corrective strategies implemented by the government. Furthermore, the Forex Association of Pakistan (FAP) noted a decrease in the buying and selling rates of the dollar in the open market to Rs 305 and Rs 308, down from Rs 313 and Rs 316, respectively.
