KARACHI: The price of gold in Pakistan’s local market declined on Saturday due to the decline in global prices.
According to data shared by the All Pakistan Gems and Jewelers Association, the price of gold per tola fell by Rs 1,200 to close at Rs 275,700.
Similarly, the price of 10 grams of gram closed at Rs 236,368 in the local market after a decline of Rs 1,029.
Bullion rates also saw a bearish trend as the price per ounce in the international market fell by $ 18 to $ 2,639.
A day earlier, the precious commodity saw an increase in the local and international markets. The price of 24-karat gold increased by Rs 2,200 per tola, taking it to Rs 276,900 per tola on Friday.
Similarly, the price of 10 grams of gold increased by Rs 1,886 to Rs 237,397.
Market analysts attribute the increase to volatile global economic conditions and rising investor demand for safe-haven assets. Traders anticipate that gold prices may remain volatile in the coming days, affected by international trends and currency exchange rates.
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