Gold has long been a significant and sought-after commodity in the world of finance. However, the price of gold in Pakistan has recently been on a rollercoaster ride. Today, we’ll break down the complicated world of gold rates and explain how the price of gold has dropped by Rs. 1,200 per tola.
The All-Pakistan Gems and Jewellers Association (APGJA) has given us some critical information. According to their data, the price of gold (particularly, 24-carat gold) has fallen by Rs. 1,200 per tola, culminating in a closing rate of Rs. 211,800.
To make it even more affordable, the price of 10 grams of gold has dropped by Rs. 1,029 to Rs. 181,584.
On Tuesday, the price of gold climbed by Rs. 900 per tola. Prior to that, it had dropped significantly by Rs. 1,200 per tola on Monday.
Gold Rate in Pakistan |
Per Tola (Rs.) |
Per 10 Grams (Rs.) |
|---|---|---|
| Wednesday | 211,800 | 181,584 |
| Tuesday | Increase: Rs. 900 | Increase: Rs. 771 |
| Monday | Decrease: Rs. 1,200 | Decrease: Rs. 1,029 |
It’s crucial to remember that gold is a global commodity, not simply a local one. International gold rates were $1,983 at 5 p.m. (Pakistan Standard Time). The worldwide price of gold influences gold rates in Pakistan.
Not long ago, gold prices broke past the $2,000 mark. The uncertainty and turmoil produced by the Israel-Palestine conflict contributed to this increase. During times of violence and economic insecurity, investors often resort to gold as a safe-haven investment.
The recent decline in gold prices in Pakistan of Rs. 1,200 per tola is only one chapter in the continuous saga of gold rates, and it serves as a reminder of how different variables, both local and global, may affect the value of this precious metal.