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Saturday, November 23, 2024

Home Pakistan Gold prices drop in Pakistan despite surge in international market

Gold prices drop in Pakistan despite surge in international market

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KARACHI – The gold prices on Wednesday moved down by Rs1,900 per tola despite the hike in the international rates.

Data shared by All Pakistan Sarafa Gems and Jewellers Association (APSGJA) suggest that the price of gold (24 carats) plunged down by Rs1,900 per tola to settle at Rs232,600.

Meanwhile, the price of 10 grams of gold moved down by Rs1,629 and was settled at Rs199,417.

In the international market, the price of yellow metal moved down by $3 and settled at $1,900 per ounce in the week.

Yellow metal remained volatile in Pakistan amid economic uncertainty, record inflation, and massive devaluation of local currency as investors prefer to buy precious metal as a safe investment.