Article:
Gold prices in Pakistan have taken a downturn, with a sharp decline in the past week. According to the All Pakistan Jewellers and Goldsmiths Association, the price of gold per tola has dropped to Rs. 4,95,362 from Rs. 1,60,000. The price of 10 grams of gold has also decreased by Rs. 1,371, falling to Rs. 4,24,693.
The global market has been experiencing volatility, with the price of gold in the international market falling to $4,730 per ounce from $4,746. According to the International Monetary Fund, this decline is due to the country’s economic stability, macroeconomic measures, and the consistent supply of crude oil.
Pakistan’s stock market has also seen a decline, with the 100 Index closing at 1,67,191 points last week. The market has been affected by the tensions between the US and Iran, with the US imposing sanctions on Iran and the Iranian government announcing that it will not engage in any negotiations with the US.
Despite the tensions, Pakistan has managed to maintain its energy supply, with the country’s air traffic controllers receiving praise for their professionalism in handling the situation. The State Bank of Pakistan has reported a decline in remittances, with a monthly decline of 16.5% and a yearly decline of 5.5%.
The industry sources have reported a 15% decline in crude oil prices, which has led to a decrease in gold prices. According to the All Pakistan Jewellers and Goldsmiths Association, the price of gold per tola has increased by Rs. 15,700, falling to Rs. 5,04,162.
The US has announced that it will impose sanctions on any ship that enters or leaves the region without permission, and the Iranian government has announced that it will not engage in any negotiations with the US.
The International Federation of Air Traffic Controllers has praised Pakistan’s air traffic controllers for their professionalism in handling the situation. A recent study has found that obesity between the ages of 20 and 30 is particularly risky.
In a recent statement, US President Donald Trump claimed that Iran’s navy has been completely destroyed, with 158 warships sunk. However, the Iranian government has denied these claims, stating that the US has exaggerated the situation.
The decline in gold prices in Pakistan is expected to continue, with a forecast of 6.4% inflation in financial year 2026. The country’s economic stability, macroeconomic measures, and the consistent supply of crude oil are expected to contribute to this decline.
The 100 Index closed at 1,65,517 points last week, and is expected to continue its decline. According to the Lahore Chamber of Commerce and Industry, the decline in gold prices is due to the increase in supply of liquefied petroleum gas (LPG).
The global market is expected to continue its volatility, with the price of gold in the international market expected to fluctuate. The US and Iran are expected to continue their tensions, with the US imposing sanctions on Iran and the Iranian government announcing that it will not engage in any negotiations with the US.
