Gold prices drop by Rs 1300 per tola

The gold price in Pakistan on Saturday witnessed a slight decline following a price drop in the international market, causing concerns among investors.

According to data shared by All Pakistan Sarafa Gems and Jewellers Association suggested that the rate of gold (24 carats) decreased by Rs1,300 per tola and Rs1,115 per 10 grams to reach Rs213,200 and Rs167,555, respectively.

Likewise, 10 grams of 22k gold were being traded for Rs163,624 while a single tola of 22-karat gold was being sold at Rs 190,849.

The price of one tola of silver remained at Rs 2650.  

Meanwhile, the gold rate in the international market declined by $4, closing at $1,955 per ounce, down from the previous day’s closing of $1,959.

This downward trend in global gold prices has been cited by market experts as the primary reason for the decrease in the local gold rate.

The decline in gold prices has raised concerns among investors who are closely monitoring the market for potential opportunities.