Saturday, June 03, 2023
KARACHI: The prices of gold in Pakistan on Saturday once again declined after gaining a whopping Rs4,000 a day earlier.
According to the data issued by the All Pakistan Sarafa Gems and Jewellers Association (APSGJA), the price of gold (24 carats) declined by Rs1,600 per tola to reach Rs231,400.
Meanwhile, the yellow metal fell by Rs1,371 per 10 grams to settle at Rs198,388.
In the international market, gold also declined $27 to settle at $1,948 per ounce.
A day earlier, the yellow metal rose by Rs4,000 per tola after it saw a major decline of Rs5,400 on Thursday.
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.
Data shared by the jeweller's body showed that the rate of silver remained the same at Rs2,750 per tola and Rs2,357.68 per 10 grams.