Gold Prices in Pakistan decline amid int’l market dip

Karachi: Gold prices in Pakistan witnessed a decline on Tuesday, influenced by a decrease in the international market and the strengthening of the rupee against the dollar.

All-Pakistan Sarafa Gems and Jewellers Association (APSGJA) shared the data, revealing that the price of 24-carat gold dropped by Rs1,100 per tola, settling at Rs214,200, while per 10 grams, it decreased by Rs943 to reach Rs183,642.

Simultaneously, the international market also experienced a decrease in gold prices, with a $9 drop, settling at $1,922 per ounce.

The volatility in gold rates within Pakistan can be attributed to ongoing political and economic uncertainties, along with high inflation. During such periods, individuals often choose to invest in gold as a secure asset and a hedge against potential risks.