Gold Prices Continue to Drop in Pakistan
The downward trend in gold prices continues both globally and locally, as rates have fallen for the fifth consecutive day.
According to the All Pakistan Gems and Jewellers Association, the price of gold per tola in Pakistan has decreased by Rs. 2,000, bringing it down to Rs. 431,862. Similarly, the price of 10 grams of gold has dropped by Rs. 1,714, now standing at Rs. 370,252.
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Global Market Also Sees a Decline
The international gold market has also witnessed a notable decrease. The price per ounce of gold fell by $20, reaching $4,095. Analysts attribute this continuous drop to the strengthening of the US dollar and fluctuating global economic conditions.
Five Days of Consecutive Decline
This marks the fifth straight day of declining gold prices, offering a temporary sigh of relief to local buyers and investors who have been facing record-high rates in recent months.
However, jewellers warn that market volatility may continue due to uncertain global trends and currency fluctuations, advising investors to stay cautious.
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