ISLAMABAD: Gold prices witnessed significant ups and downs during the past week in Pakistan due to changes in the international bullion market and currency exchange rates.
According to market reports, the price of 24-karat gold per tola fluctuated throughout the week, while the rate of 10 grams of gold also recorded notable changes. Traders said uncertainty in the global economy and changing investor trends remained the main reasons behind the volatility.
Jewellers stated that the local gold market remained highly active as citizens closely monitored daily price movements. Experts believe that further changes in international market trends could affect gold prices in the coming days.
Meanwhile, investors continue to prefer gold as a safe investment option amid economic uncertainty and inflation concerns.
Today’s Gold Rate
The price of gold in the country has decreased for the second day as well. The price of gold per tola has decreased by Rs 400. According to the All Pakistan Sarafa Bazaar Jewelers Association, after the decrease, the new price of gold per tola in the country has become Rs 493,662.
Similarly, the price of 10 grams of gold has also decreased by Rs 343, after which 10 grams of gold is being sold for Rs 423,235.
The price of silver in the country has also decreased further. With a decrease of Rs 12 in the price of silver per tola, the new price has become Rs 8,513.
Sarafa dealers say that the effects of fluctuations in gold prices in the global market are also affecting local markets.