KARACHI: The price of gold in Pakistan has fallen to Rs 524,562 after a major decline.
According to details, the impact of the decline in the global market has also been felt on the gold and silver markets of Pakistan, where a major decline in the prices of gold and silver has been recorded.
The All Pakistan Gold and Silver Gems and Jewelers Association said that due to the fall in prices at the international level, the price of gold per tola in Pakistan has decreased significantly by Rs 8,700, after which the new price has become Rs 524,2562.
Similarly, 10 grams of gold has fallen by Rs 7,459 to Rs 449,727.
The price of gold per ounce in the global market has decreased by $ 87, after which the global rate has reached $ 5,018 per ounce. The price of silver has decreased by Rs 310 to Rs 8,541 per tola.
According to experts, the price volatility is likely to continue due to the global economic situation and the increasing interest of investors in gold.
It should be remembered that buying gold is traditionally considered a safe investment, the value of which increases in times of inflation, political and economic instability. It has been used for centuries as a currency and a form of wealth, when investors feel uncertain about other assets, they often buy gold.
Last year, the method of determining the price of gold was changed in Pakistan, under which the price of gold was set at $ 2
