Islamabad: After three consecutive winning sessions, the price of gold in Pakistan snapped marginally by Rs200 per tola on Monday.
According to the data released by the All Pakistan Sarafa Gems and Jewellers Association, the price of gold dropped by Rs200 per tola on Friday to settle at Rs185,100. Similarly, the price of gold on a ten-gram basis also declined by Rs172 to settle at Rs158,693.
Meanwhile, the price of per tola and ten-gram silver remained constant at Rs2,070 and Rs1774.70, respectively.
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.