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Friday, December 13, 2024

Home Business Gold rate registers major drop in Pakistan

Gold rate registers major drop in Pakistan

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KARACHI – The gold price on Thursday moved down by Rs2,800 per tola in line with the drop 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 Rs2,800 per tola to settle at Rs220,200.

Meanwhile, the price of 10gram gold moved down by Rs2,400 and was settled at Rs188,785.

In the international market, the price of yellow metal moved down and settled at $1,959 per ounce.

Gold 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.