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Saturday, November 23, 2024

Home Pakistan Gold prices further decline in Pakistan in line with global trend

Gold prices further decline in Pakistan in line with global trend

by Web Desk (Lahore)
August 12, 2023
in Business, Pakistan

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Gold price in Pakistan fell for the second session on Saturday in line with international trend.

Data shared by All-Pakistan Sarafa Gems and Jewellers Association (APSGJA) suggest that the price of gold (24 carats) plunged by Rs600 per tola and Rs514 per 10 grams.

With the latest change in rates, the new price of precious metal plunged to settle at Rs221,800 and Rs190,160.

Cumulatively, the safe-haven metal has fallen from Rs224,000 per tola after registering several losses in a couple of weeks.

In the international market, the price of gold dropped $4 and settled at $1,914 per ounce.

Gold remained volatile in crisis-hit country amid economic uncertainty, soaring inflation, and massive devaluation of local currency and investors prefer to buy gold amid the crisis as a safe investment.