After continuous rise, gold prices sharply decline today

Karachi: After being expensive for several days in the country, gold prices plunged by several thousand rupees today.

According to the Sarafa Bazaar Association, the price of per tola gold fell by Rs10,600 on Saturday to Rs446,300.

In addition, price of 10 grams of gold decreased by Rs8,331 to Rs382,630.

Yesterday, the price of gold per tola in the country increased by Rs14,100 in a single day, after which the price touched the highest level of Rs456,900.

The rate of 10 grams of gold also saw a historic increase and the price increased by Rs12,089 to Rs391,718.

Gold rates have also reached the highest level in the global market, the price of gold in the global market has increased by $141, after which the price per ounce reached $4,358.

Gold has become expensive not only in Pakistan but also globally. The price of gold in Pakistan has gone beyond the purchasing power of the common man. It has become extremely difficult for the common man to buy gold.

Economists say that the price has increased by more than 57 percent this year. Experts have called large purchases by central banks, increased demand for gold exchange funds, a weak dollar and global trade and geopolitical tensions as the main reasons for gold becoming expensive.

Gold rates in the global market have touched the highest level. Gold has reached the level of $4,358 per ounce. Experts say that investors want to protect their money by buying gold in the current tense situation.