The trend of declining gold prices in Pakistan continues, as on Friday the price of gold per tola in the local bullion market dropped by Rs. 1,595, bringing it down to Rs. 357,000, which is considered a significant decrease compared to the past several days.
According to the All Pakistan Gems and Jewellers Sarafa Association, on Friday, the price of 10 grams of gold also recorded a decrease of Rs. 1,368, after which 10 grams of gold is available for Rs. 306,069.
It is worth noting that on Thursday as well, the price of gold per tola had decreased by Rs. 460, resulting in the price per tola reaching Rs. 358,595. This decrease in prices has not been limited to the local market only; a decline in gold prices has also been observed globally.
According to the data released by the Association, the price of gold per ounce in the international market dropped by $16 to $3,356, which includes a $20 premium. On the other hand, a slight decrease has also occurred in the price of silver. The price of silver per tola has fallen by Rs. 24, now being sold at Rs. 3,796, which is a minor change compared to recent days.
According to experts, this decline in gold prices may be the result of international financial pressure, fluctuations in the value of the US dollar, and investor strategies. It is possible that further changes in prices may be seen in the coming days, which will be important for investors to monitor.
