Gold drops Rs3,800 per tola in Pakistan as global prices decline
“Gold and silver prices recorded a significant decline in Pakistan on Thursday, tracking a fall in precious metal prices in the international market. country’s bullion markets, the price of 24-karat go…”
Gold dropped by $38 per ounce internationally, bringing its reported price to $4,309 per ounce. Domestic gold prices are influenced by movements in international bullion markets as well as the rupee-dollar exchange rate. Changes in either factor can affect local prices even when the other remains relatively stable.
The latest decline offers some relief to domestic buyers after elevated precious-metal prices had made jewellery and bullion increasingly expensive. Gold remains closely watched in Pakistan both as a jewellery commodity and as a store of value, particularly during periods of economic and financial uncertainty.
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