Gold prices in Pakistan fall for fifth consecutive session

WEB DESK: Gold prices in Pakistan saw another decrease on Saturday, falling by Rs200 per tola. This marks the fifth consecutive session of decline, reflecting a continuous downtrend in international gold prices.

According to the All Pakistan Gems and Jewellers Sarafa Association (APGJSA), the price of gold per tola in Pakistan now stands at Rs240,000.

Similarly, the price of 10-gramme gold also fell, shedding Rs172 to settle at Rs205,761. The decline follows a significant drop on Friday, when the price per tola decreased by Rs1,800.

Internationally, gold prices also experienced a slight dip on Saturday. The APGJSA reported that the global rate of gold was set at $2,333 per ounce, including a premium of $20, following a $5 decrease during the day.

In contrast, silver prices in Pakistan remained stable at Rs2,800 per tola.

Last month, the price of gold in the local market reached an all-time high of Rs252,200 per tola. Over the past five sessions, gold has seen a substantial decline of Rs10,400 per tola.

On a weekly basis, the gold price has decreased by Rs8,100 per tola, compared to Rs248,100 per tola last Saturday.

This ongoing decline in gold prices highlights the volatility in the precious metals market, influenced by both local and international factors.

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