ISLAMABAD: Due to the ongoing downturn in the global market, the price of gold in the country has continued to decline today.
According to the All Pakistan Sarafa Gems and Jewelers Association, the price of gold per tola has fallen by Rs 1,000 to Rs 431,236.
This slight decline in the market after the major fluctuations of the past few days seems to be an attempt to stabilize prices.
According to the association, along with the price of 10 grams of gold, a decrease has also been recorded. After 10 grams of gold became cheaper by Rs 730, it has come down to Rs 369,715.
These prices have been issued after two Ashura holidays, while before Ashura, gold per tola had become cheaper by Rs 10,400 to Rs 432,236.
According to economic analysts, the continuous decline in gold prices is due to the bearish trend in the global market, the main reason for which is the ceasefire agreement reached between Iran and the United States. Following this development, gold prices have reached close to a 7-month low.
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