KARACHI: Gold prices in Pakistan have hit a brake and after a major decline, the price per tola has fallen to Rs 485,062.
According to details, a huge decline has been recorded in the prices of gold and silver in Pakistan under the influence of the global market.
Due to the fall in prices in the global bullion market, the price of gold per tola in the local market has decreased by Rs 8,900.
The All Pakistan Gems and Jewelers Association said that gold per tola fell by Rs 8,900 to Rs 485,062.
Similarly, 10 grams of gold reached the level of Rs 415,862 after a decline of Rs 7,630.
After a major decline of $ 89 in the international market, gold is trading at $ 4,627 per ounce, which has had a direct impact on local prices.
Along with gold, silver prices also trended downward. The price of silver per tola across the country has decreased by Rs 238 to Rs 7,811.
It should be noted 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 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 $ 20 per ounce above the international market rate.
