KARACHI: Gold prices in Pakistan continued their downward spiral, falling by Rs1,400 per tola on Wednesday, according to the All-Pakistan Gems and Jewellers Sarafa Association (APGJSA).
This marks the second consecutive day of decline, following a Rs1,000 per tola decrease on Tuesday. The current price of gold in local markets now stands at Rs260,100 per tola.
The decline in gold prices is attributed to a downturn in international gold prices, which also fell by $17 per ounce on Wednesday, settling at $2,481 per ounce, including a $20 premium.
This global dip has had a ripple effect on Pakistan’s gold market, causing prices to drop.
Notably, gold prices in Pakistan had reached a record high of Rs263,700 per tola in August, but have since experienced a correction.
The APGJSA’s data indicates a significant decrease in gold prices over the past two days, bringing relief to consumers but potentially impacting gold traders and investors.
ISLAMABAD: The Pakistan Telecommunication Authority (PTA) has issued a warning for mobile phone users against…
ISLAMABAD: Iranian President Dr. Masoud Peshkeskian met President Asif Ali Zardari and Prime Minister Shehbaz…
ISLAMABAD: The government has approved a reduction in advance tax rates on property buyers and…
RAWALPINDI: Chief of Army Staff, Field Marshal Syed Asim Munir, met with Iranian President Masoud…
LAHORE: Following the reduction of petroleum prices, solar panels and batteries witnessed a sharp fall…
ISLAMABAD: State Bank of Pakistan (SBP) has declared a two-day public holiday for Ashura (9th &…