Karachi– Gold prices in Pakistan saw a significant drop on Saturday, mirroring the trend in the international market. The price of gold per tola (11.66 grams) fell by Rs5,500, reaching Rs320,000 in the local market. This decline is part of a broader decrease in global gold prices.
In addition, the price of 10 grams of gold also experienced a reduction, falling by Rs4,714 to settle at Rs274,348, according to data provided by the All-Pakistan Gems and Jewellers Sarafa Association (APGJSA).
The decline in gold prices comes as the international market witnesses a pullback in the value of gold, reflecting shifts in global economic factors such as currency fluctuations and market sentiment. The drop in prices has impacted local traders and consumers, who have seen a reduction in the cost of the precious metal.
Gold has long been considered a safe haven investment, and such fluctuations in its price are closely watched by both investors and consumers alike. With the ongoing volatility in global markets, gold prices are expected to remain sensitive to international trends.
As the prices of gold continue to fluctuate, market participants are keeping a close eye on further developments, including shifts in global economic conditions, which could influence gold's trajectory in the coming weeks.
