Save Our Pak
Karachi: Gold prices in Pakistan fell again today during trading hours, bringing some relief for buyers in the local market.
According to the Sarafa Bazaar Association, the price of gold per tola dropped by Rs 3,400, bringing the new rate down to Rs 533,762 per tola. At the same time, the price of 10 grams of gold decreased by Rs 2,915, reaching Rs 457,614.
In the international market, gold prices also went down. The global price fell by 34 dollars per ounce, bringing the new rate to $5,110 per ounce.
Meanwhile, silver prices moved in the opposite direction. The price of silver per tola increased by Rs 104, reaching Rs 8,914. Similarly, the price of 10 grams of silver rose by Rs 89, and now stands at Rs 7,642.
Gold has long been considered a safe investment around the world. Its value often rises during times of inflation, political uncertainty, or economic instability. For centuries, people have used gold as a store of wealth and a reliable form of currency. When investors feel unsure about other financial assets, many of them choose to invest in gold.
It is important to note that Pakistan changed the method for setting gold prices last year. Under the new system, the local gold price is fixed 20 dollars per ounce higher than the international market rate.
Reported by Save Our Pak
