In accordance with the international market, gold prices fell sharply in Pakistan on Tuesday, with the rupee falling 1.42 per cent against the US dollar in interbank trading.
According to the All-Pakistan Sarafa Gems and Jewellers Association (APSGJA), the price of gold (24 carats) fell by Rs6,300 per tola and Rs5,402 per 10 grammes, respectively, to settle at Rs223,800 and Rs199,588.
Furthermore, the association claimed that the price of 24-carat silver fell by Rs100 per tola and Rs85.74 per 10 grammes to Rs2,800 and 2400.5, respectively.
Furthermore, the association claimed that the price of 24-carat silver fell by Rs100 per tola and Rs85.74 per 10 grammes to Rs2,800 and 2400.5, respectively.
In Pakistan, the gold price has been fluctuating recently due to ongoing political and economic uncertainties, high inflation, and currency devaluation. In such times, people prefer to buy yellow metal as a safe investment and a hedge.
The gold price in Pakistan had fallen the previous day in line with global market developments.
According to the All-Pakistan Sarafa Gems and Jewellers Association (APSGJA), the price of gold (24 carats) fell by Rs700 per tola and Rs600 per 10 gramme, respectively, to settle at Rs239,100 and Rs204,990.
In today’s international market, the yellow gold dropped $5 to settle at $1,940 per ounce. As a result, the rate in the domestic market fell.
