Save Our Pak
Gold prices in Pakistan saw a big drop again today. The price of one tola gold has now fallen to Rs 431,862 in the local market.
According to the Sindh Sarafa Bazaar Jewellers Association, the price of gold per tola fell by Rs 2,000, bringing it down to Rs 431,862.
Similarly, the price of 10 grams of gold decreased by Rs 1,714, reaching Rs 370,252.
Experts said that both international and local markets are seeing continuous declines in gold prices. In the global market, gold also dropped by $20, and now stands at $4,095 per ounce.
Market analysts believe the fall is due to the stronger dollar value and investors taking profits after previous price increases. Because of these reasons, gold prices have come down around the world.
Gold has always been seen as a safe investment, especially in times of inflation or political and economic uncertainty. For centuries, people have used gold as a symbol of wealth and as an alternative to currency. Whenever investors feel unsure about other assets, they usually turn to buying gold.
Last year, Pakistan changed the way it sets gold prices. Under the new system, the local gold price is fixed $20 per ounce higher than the international market rate.
Reported by Save Our Pak
