Gold prices in Pakistan declined on Saturday in line with their decrease in international rates. In the local market, the price of gold per tola was lessened by Rs700, clocking in at Rs276,000.
Similarly, 10-gram gold was sold at Rs236,625 after it recorded a decrease of Rs601, according to rates shared by the All-Pakistan Gems and Jewellers Sarafa Association (APGJSA).
On Friday, gold price had decreased by Rs300 to settle at Rs276,700.
Meanwhile, the international rate of gold reduced on Saturday. As per APGJSA, the rate was at $2,657 per ounce (with a premium of $20), and down by $6 during the day.
Silver prices remained stable at Rs3,050 per tola.
On Thursday, gold prices hit a record high level of Rs277,000 per tola in Pakistan.
Experts have attributed the recent increase in gold prices to global developments, including escalating geopolitical tensions in the Middle East, Fed rate cuts and soaring demand from major markets like China and India.
Read the full story at the Business Recorder - Latest News website.
