Gold prices in Pakistan decline due to Int’l rate drop

Karachi: Gold prices in Pakistan experienced a downward trend, breaking a two-day gaining streak, following a decrease in international rates.

The All-Pakistan Sarafa Gems and Jewellers Association (APSGJA) released data showing a decline in the price of gold (24 carats), with a decrease of Rs1,300 per tola and Rs1,115 per 10 grams, settling at Rs213,200 and Rs182,785, respectively.

Simultaneously, the price of gold also witnessed a decline in the international market, dropping by $4 to settle at $1,955 per ounce.

Gold rates were subjected to volatility in Pakistan recently, primarily due to ongoing political and economic uncertainties, coupled with high inflation. During such periods, people tend to invest in gold as a safe haven and a hedge against market fluctuations.