Gold price goes down by Rs1,500 per tola in Pakistan

Karachi: The price of gold in Pakistan experienced a decline of Rs1,500 per tola on Friday, reflecting the decrease in the international market.

The All-Pakistan Sarafa Gems and Jewellers Association (APSGJA) shared the data, showing that the price of 24-carat gold decreased by Rs1,500 per tola and Rs1,285 per 10 grams, settling at Rs217,000 and Rs186,043, respectively.

According to the data provided by the association, the price of silver remained unchanged at Rs2,550 per tola and Rs2,186.21 per 10 grams.

The data also indicated that the cost of gold in Pakistan is currently Rs4,000 per tola cheaper than the Dubai market, indicating that the Pakistani gold market is relatively more affordable compared to the global market.

In the international market, the price of gold also dropped by $10, reaching $1,919 per ounce.

The gold rate in Pakistan has been fluctuating recently due to ongoing political and economic uncertainties, along with high inflation. During such times, individuals often consider investing in gold as a safe haven and a hedge against market volatility.