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Gold prices in Pakistan fall amid sharp drop in global market

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KARACHI – Gold prices witnessed a marginal drop in Pakistan following a plunge in the international market.

Data shared by the local Sarafa market suggest that the 24 carats of gold witnessed a drop of Rs400 and the new price settled at Rs209,200 per tola.

Meanwhile, the price of 10-gram gold saw a decline of Rs343, and the new price settled at Rs179,355.

In the international market, the price of gold reached $1975 per ounce after a drop of around $26.

Bullion remained volatile in the country amid continued political and economic uncertainty and soaring inflation, and people prefer to buy bullion in such times as a safe investment.

The government however tightened noose around hoarders and smugglers in recent weeks to curb the spiraling prices.

US dollar hits reverse gear in Pakistan, drops to Rs302 in open market

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