Gold price sees major drop in Pakistan
- By Anjum Wahab -
- Sep 07, 2023
KARACHI: The Gold prices continued to decline in Pakistan in line with the international market, ARY News reported quoting APSGJA.
According to data provided by the All Pakistan Sarafa Gems and Jewellers Association (APSGJA), the price of gold (24 carats) fell by Rs5,800 per tola and Rs20,000 per 10 grams to settle at Rs216,500 and Rs170,586, respectively.
Meanwhile, the price of the yellow metal fell by $5 to settle at $1,921 per ounce in the international market today.
The gold rate has been volatile in Pakistan recently amid continued political and economic uncertainty, high inflation, and currency depreciation. People prefer to buy yellow metal in such times as a safe investment and a hedge.
Read More: Pakistani rupee makes significant recovery against dollar in open market
It is pertinent to mention here that the Pakistani rupee (PKR) made another aggressive recovery against the US dollar (USD) in the open market, rising by Rs5 against the greenback.