Pakistan gold prices drop by Rs3,700 - Why global market weakening?
The All Pakistan Sarafa Association said the price of 24-karat gold fell by Rs3,700 per tola. After the latest decline, one tola of gold is now priced at Rs426,736 across Pakistan.
The price of 10 grams of gold also moved down during the latest trading session. It decreased by Rs3,202, bringing the new price to Rs365,857.
The international gold market also remained under pressure. The global gold price fell by $37 per ounce and reached $4,043 per ounce.
Jewellery market experts say global price movements, investor sentiment, and economic conditions directly influence gold prices. They believe the recent fall in international prices has also reduced gold rates in Pakistan.
Silver prices also recorded a decline in the local market. According to the All Pakistan Sarafa Association, the price of silver dropped by Rs57 per tola to Rs6,237.
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Gold prices in Pakistan have remained highly volatile in recent weeks. Because of these frequent changes, both buyers and investors are closely watching the market for the next price trend.
Market experts say gold prices may continue to move up and down as global economic conditions change. They believe international developments will remain the biggest factor affecting Pakistan’s gold market in the coming days.
