Gold prices slightly go down in Pakistan

Karachi: The price of gold in Pakistan on Saturday concluded with a slight decline, in line with international market trends.

The All-Pakistan Sarafa Gems and Jewellers Association (APSGJA) reported a nominal decrease in the price of 24-carat gold. The price per tola dropped by Rs1,700, settling at Rs221,700, while the price per 10 grams decreased by Rs1,458, reaching Rs190,072.

Simultaneously, the international market witnessed a $7 decrease in the price of gold, with the yellow metal settling at $1,958 per ounce.

The gold market in Pakistan has recently experienced volatility due to ongoing political and economic uncertainty, elevated inflation rates, and currency depreciation. During such times, individuals often turn to gold as a secure investment and a hedge against market fluctuations.

Multiple factors, including international rates, Biparjoy, and post-budget concerns, contributed to a significant decline in the market.

According to the APSGJA data, the price of silver remained unchanged at Rs2,650 per tola and Rs2,271.94 per 10 grams.