Islamabad: The price of gold in Pakistan witnessed a big fall on Thursday as the per tola rate declined to Rs183,400.
According to the data released by the All Pakistan Sarafa Gems and Jewellers Association, the price of gold decreased by Rs5,200 per tola on Monday to settle at Rs183,400. Similarly, the price of gold on a ten-gram basis also came down by Rs4,458 to settle at Rs157,236.
The precious metal had started 2023 on a higher note, increasing by nearly Rs5,000 per tola in the first three sessions before coming down massively on Thursday.
Similarly, the price of per tola silver also decreased by Rs30 to Rs2,130, whereas that of 10 grams declined by Rs17.14 to reach Rs1826.13.
In 2022, the per tola price of gold gained Rs57,900 or 45.95%, going up from Rs126,000, reaching the all-time high of Rs184,100, and closing the year at Rs183,900.
Gold is considered to be a safe haven against inflation — which reached a multi-decade high during the year.
Investors poured money into the precious yellow metal to safeguard their positions during the year as the economic crisis led by political turbulence boosted the metal’s appeal.