Gold prices continue downwards spiral

Gold prices continue downwards spiral

Gold prices in Pakistan have experienced a persistent decline over the course of four consecutive days, mirroring the trends in the global market. This decline is based on information provided by the All-Pakistan Sarafa Gems and Jewellers Association (APSGJA). Specifically, the domestic price of 24 karat gold has witnessed a decrease of Rs5,800 per tola and Rs4,972 per 10 grams, ultimately reaching Rs216,500 and Rs185,614, respectively.

Simultaneously, on the international front, the value of gold has dropped by $5, settling at $1,921 per ounce today. The reasons behind this fluctuation in gold prices within Pakistan can be attributed to ongoing political and economic uncertainties, coupled with elevated levels of inflation.

Furthermore, the data shared by the association indicates a similar downward trajectory for silver. The price of 24 karat silver has experienced a reduction of Rs50 per tola and Rs42.87 per 10 grams, resulting in a settlement at Rs2,650 and 2271.94, respectively. This trend in precious metal prices underscores the volatile economic landscape in Pakistan and its impact on these valuable commodities.

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