Gold price drops by Rs27,800 per tola in one week

KARACHI: Pakistan’s gold market witnessed another day of falling prices on Saturday, with gold becoming Rs500 cheaper per tola. This marks the sixth consecutive day of decline in gold prices in the country.

Over the course of a week, the price of gold in Pakistan has decreased by Rs27,800 per tola.

According to data provided by the All-Pakistan Sarafa Gems and Jewellers Association (APSGJA), the price of 24 karat gold saw a significant drop of Rs500 per tola and Rs428 per 10 grammes. The new rates stand at Rs212,000 per tola and Rs 181,756 per 10 grammes, respectively.

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This decline in gold prices mirrors a global trend, with the international gold market also witnessing a decrease of $4, bringing the price down to $1,919 from its previous value of $1,923.

Investors and consumers alike are closely monitoring these changes in gold prices, which may have significant implications for the economy and the jewellery industry in Pakistan.