Gold prices drop by Rs2,500 per tola in Pakistan

Karachi: The price of gold in Pakistan witnessed a decline of Rs2,500 Per tola on Monday due to a decrease in the international market.

The All-Pakistan Sarafa Gems and Jewellers Association (APSGJA) released data indicating that the price of 24-carat gold dropped by Rs1,500 per tola, settling at Rs2.2 million.

At the same time, the international market saw a $16 decrease, with the yellow metal settling at $1,959 per ounce.

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Gold traders and investors have been advised to keep an eye on market fluctuations and make informed decisions accordingly.

According to the data from Bullion Rates, the price of gold per tola in Pakistan was Rs229,000 on June 1, 2023 and reached its highest level of Rs258,000 on June 21, 2023.

However, since then, the price has been falling steadily and reached its lowest level of Rs226,400 on July 20, 2023.

The price of 10 grams of gold also followed a similar pattern, starting from Rs197,620 on June 1, 2023 and peaking at Rs221,200 on June 21, 2023. It then dropped to Rs192,560 on July 20, 2023.