Karachi: Gold prices in Pakistan continued their steep decline on the first day of the business week, with thousands of rupees shaved off both per tola and per 10-gram rates.
According to the All Pakistan Jewellers and Gem Dealers Association, the price of one tola of gold fell by Rs 21,500, bringing it down to Rs 490,362. Meanwhile, the rate for 10 grams of gold dropped by Rs 18,433, now standing at Rs 420,406.
This recent decrease is part of a continuing trend, with gold losing Rs 82,500 per tola over the past three days.
On the international front, gold prices also showed a decline, with rates falling by $215 to reach $4,676 per ounce.
The consistent fall in gold prices locally reflects global market trends and currency fluctuations. Analysts say that investors and consumers should carefully monitor the market as prices may continue to fluctuate in the coming days.
Gold remains a preferred investment in Pakistan, often considered a hedge against inflation and currency depreciation. The recent price drop may provide an opportunity for investors looking to buy at lower rates, though market volatility suggests caution.
