Islamabad: After setting a new all-time high value on a per-tola basis, the price of gold snapped its gaining streak on Saturday.
According to the All Sindh Sarafa Jewellers Association, the price of per tola gold decreased by Rs200 to settle at Rs163,300. The price on a ten-gram basis also declined by Rs172, settling at Rs140,003.
Pakistan fulfils its gold demand by importing the precious commodity. Therefore, the rise and fall in the price depend upon many factors, including prices in the international market, the PKR to the USD exchange rate, and the demand and supply in domestic markets.
The increase in gold prices owing to internationally induced inflation has not only impacted the sale and purchase of gold-made jewellery but also compelled people to opt for other modes of investments.
Gold always remained a favourite saving option for investment purposes, especially for people belonging to the middle class, which they use to transfer to the next generation as assets.