Gold prices in Pakistan continue to drop for the second consecutive day
Business
The price of 10 grams of gold decreased by Rs515, settling at Rs399,658.
KARACHI (Dunya News) - Gold prices in Pakistan continued their downward trend for the second consecutive day, with the price of gold falling by Rs600 per tola, bringing relief to buyers.
According to the All Pakistan Sarafa Gems and Jewellers Association, after the latest decline, the price of gold per tola has dropped to Rs466,162 in the local market.
Similarly, the price of 10 grams of gold decreased by Rs515, settling at Rs399,658.
Market sources noted that gold prices have been on a downward trajectory, reversing the recent upward trend seen in previous weeks. The decline in local prices is in line with a fall in international gold rates.
The association reported that in the global market, gold prices fell by $6 per ounce, bringing the international rate down to $4,438 per ounce.
Experts attribute the continued decline in gold prices to fluctuations in the international bullion market and changing investor sentiment. Traders believe that further movement in gold prices will depend largely on global economic indicators and currency trends in the coming days.
