The fluctuation in gold prices continues across Pakistan, with a significant drop recorded today. The price of gold per tola has fallen by PKR 3,500, offering modest relief to consumers grappling with months of persistently high costs.
According to the All Pakistan Gems and Jewellers Association, the detailed prices after the reduction are as follows:
- Per Tola Gold: Following a notable decrease of PKR 3,500, the price per tola stands at PKR 420,362.
- 10 Grams Gold: The price of 10 grams of gold decreased by PKR 3,001, setting the new rate at PKR 360,392.
International Market Impact
The domestic price reduction directly mirrors a decline in the international gold market. Internationally, the price per ounce of gold decreased by $35, bringing the new rate to $3,980 per ounce.
The dip in gold prices is generally attributed to a strengthening US dollar globally or a shift in investor sentiment towards other safer assets, such as bonds.
