In a surprise move, gold prices in Pakistan took a nosedive on Thursday, with a decrease of Rs1,000 per tola. According to the All Sindh Sarafa Jewellers Association, the price of 24-carat gold now stands at Rs252,500 per tola, while the price of 10 grams has decreased to Rs216,478.
This sudden drop comes after a brief increase of Rs200 per tola the previous day. The fluctuation in gold prices has left many investors and buyers wondering about the stability of the precious metal’s value in the local market.
In contrast, the international market saw a slight increase in gold prices, with spot gold climbing $26 to reach $2,391.14 per ounce. U.S. gold futures also firmed 0.1% to $2,476.10.
The decrease in gold prices in Pakistan may be attributed to various factors, including changes in global market trends and local demand. However, the exact reason behind this sudden drop is yet to be determined.
Gold prices have been a topic of interest in Pakistan, with many investors relying on the precious metal as a safe-haven asset. The recent drop may lead to increased buying activity, as investors seek to take advantage of the lower prices.
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