Gold became cheaper by Rs 1,700 in Pakistan last week

A symbolic image of gold bangles.  - Reuters / File
A symbolic image of gold bangles. – Reuters / File
  • In the international market, the price of gold has declined by $ 7 per ounce.
  • Gold fell by Rs 1,458 to close at Rs 190,072 per 10 grams.
  • The price of silver remains unchanged.

Karachi: Gold prices in Pakistan ended the weekend on a negative note as it declined marginally in line with developments in the international market.

According to the data released by the All-Pakistan Sarafa Gems and Jewelers Association (APSGJA), gold (24 carat) lost Rs 1,700 per tola and Rs 1,458 per 10 gram to settle at Rs 221,700 and Rs 190,072, respectively. , respectively.

Meanwhile, the yellow metal declined by $7 to close at $1,958 an ounce in the international market today.

The gold rate in Pakistan has been volatile recently amid political and economic uncertainty, high inflation and currency depreciation. In such times, people prefer to buy the yellow metal as a safe investment and a hedge.

There was a big fall in the market due to various reasons including international rates, biparjoy and post-budget blue.

Data shared by the association showed that silver prices remained unchanged at Rs 2,650 per tola and Rs 2,271.94 per 10 grams, respectively.

Meanwhile, the local currency also strengthened by Rs 0.18, or 0.06 per cent, against the dollar and closed at Rs 287.19 at the interbank market on Friday.

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