Gold prices continue to dip in Pakistan

KARACHI: Gold prices in Pakistan on Thursday November 14, 2024 maintained a downward trajectory in line with decrease in international rates.

In the local market, the price of gold per tola was lowered by Rs 5,500, clocking in at Rs 266,400, according to rates shared by the All-Pakistan Gems and Jewellers Sarafa Association (APGJSA).

Similarly, 10-gram gold was sold at Rs228, 395 after it recorded a decrease of Rs 4,716.

The price of gold in the international market decreased by $55 to $2,552 from $2,607, the association reported.

Earlier on November 12, the gold prices in Pakistan witnessed a sharp decrease of Rs7,000 per tola, bringing the new price to Rs270,500.

Beyond its ornamental value, gold has played a significant role as a safe haven asset, providing a refuge for investors during times of economic uncertainty, geopolitical tensions, and market volatility.

In recent years, gold’s safe haven status has been reaffirmed, as investors seek shelter from the storms of global economic and political instability.