Gold prices in Pakistan have dropped by PKR 6,300 over three days, influenced by global market changes.
Karachi: (RightNow) Gold prices in Pakistan continue to decline for the third consecutive day. According to the All Pakistan Gems and Jewelers Sarafa Association, the price per tola (11.66 grams) of gold has fallen to PKR 453,936 after continuous decreases.
Over the past three days, gold rates have seen a significant drop of PKR 6,300. Today alone, a decrease of PKR 1,800 per tola was recorded. The price of 10 grams of gold also fell by PKR 1,544, reaching PKR 389,176.
The Sarafa Association reports that silver prices have also decreased by PKR 30. In the global bullion market, the price per ounce of gold has dropped by $18, settling at $4,314.
The primary reason for the decline in gold prices is attributed to changes in the global market, which are also impacting local Sarafa (jewelry) markets.
It is noteworthy that fluctuations in global gold prices directly affect Pakistan’s local market. Factors such as the value of the Pakistani rupee, global prices, and local demand and supply also contribute to changes in gold rates.
