KARACHI: The price of gold in Pakistan fell by more than Rs3,000 per tola, according to the All Pakistan Gems and Jewellers Association.<\/p>\n\n\n\n
The association said the price of gold decreased by Rs3,500 per tola, bringing the price of one tola of gold down to Rs483,036.<\/p>\n\n\n\n
The price of 10 grams of gold also declined by Rs3,001, settling at Rs414,125.<\/p>\n\n\n\n
The decline in domestic gold prices came alongside a drop in international gold prices. According to market data, the price of gold in the global market fell by $35 to $4,605 per ounce.<\/p>\n\n\n\n
The movement in international gold prices is closely reflected in Pakistan\u2019s local bullion market, where changes in global rates can influence domestic prices.<\/p>\n\n\n\n
The latest decline provides some relief to buyers in the local market after gold prices had remained at exceptionally high levels. However, gold prices can continue to fluctuate depending on movements in international markets, currency exchange rates and local demand.<\/p>\n\n\n\n
Market participants are expected to keep a close watch on global bullion prices and other economic indicators as they assess the direction of domestic gold rates in the coming sessions.<\/p>\n\n\n\n
The All Pakistan Gems and Jewellers Association\u2019s latest figures show that both the per-tola and 10-gram prices have recorded notable declines, while the international market has also moved lower.<\/p>\n","protected":false},"excerpt":{"rendered":"
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