The price of gold has recently decreased significantly in Pakistan, following the worldwide trend for precious metals. For those interested in investing in gold, this volatility presents possibilities as well as factors to take into account. Now let’s get into the specifics
Data from the All Pakistan Sarafa Gems and Jewellers Association (APSGJA) shows that the cost of gold, especially 24-carat gold, has fallen significantly.
At Rs. 1,800 a tola and Rs. 1,450 per 10 grammes, the reduction is still there. This results in a new pricing point for a total of Rs202,300 and for 10 grammes of gold of Rs173,440.
It’s important to note that this decline in gold prices is consistent with global trends. The price of gold decreased somewhat across the board, closing at around $1,892 per ounce.
The strengthening of the Pakistani rupee on the domestic market is one of the main causes of this change in gold’s price.
The price of gold may be considerably influenced by currency exchange rates, and as the rupee strengthens, gold prices are often under pressure to decline.