Gold rates dip across Pakistan

KARACHI: Gold prices in Pakistan experienced a decline on Tuesday, mirroring the drop in international rates, ARY News reported.

According to All Sindh Sarafa Jewellers Association, the gold prices saw a decline in the local market, with the price of a single tola dropping by 1,400 rupees.

The new price for one tola of gold is now 277,900 rupees. Similarly, the price of 10 grams of gold decreased by 1,201 rupees, bringing the price of 10 grams to 238,254 rupees.

In the international market, the price of gold fell by 14 dollars, reaching 2,661 dollars per ounce.

Meanwhile, the price of silver remained stable at 3,350 rupees per tola.

Earlier, on January 13, 2025, following an increase over the past five sessions, gold prices in Pakistan experienced a decline on Monday, mirroring the drop in international rates.

According to All Sindh Sarafa Jewellers Association, in the local market, the price of gold per tola decreased by Rs1,500, bringing it to Rs279,300.

In addition, the price for 10 grams of gold fell by Rs1,286, resulting in a selling price of Rs239,455, as reported by the All-Pakistan Gems and Jewellers Sarafa Association (APGJSA).

On Saturday, the price per tola had risen by Rs1,400, concluding at Rs280,800.

Gold, a highly valued precious metal, has maintained its significance for centuries and plays a vital role in the global economy.

Its value stems from its scarcity, durability, and widespread appeal. Frequently regarded as a safe-haven asset, gold is employed to preserve wealth during times of economic instability.

Central banks and investors maintain gold reserves to diversify their investment portfolios and protect against inflation and currency value fluctuations.

The inherent allure and limited availability of gold render it a sought-after material for jewellery and luxury items. The demand for gold jewellery stimulates economic activity across the mining, manufacturing, and retail sectors.