Save Our Pak
Gold prices in Pakistan have fallen by thousands of rupees, marking a major decrease in the local market.
According to the All Pakistan Gems and Jewellers Association, the price of gold per tola has gone down by Rs 9,100, bringing the new rate to Rs 430,662.
Similarly, the price of 10 grams of gold has dropped by Rs 7,799, and now stands at Rs 369,223.
The global market has also recorded a decline in gold prices, with international gold falling by $91 to reach $4,083 per ounce.
Gold is traditionally considered a safe investment, especially during inflation, political tension, or economic instability. Its value often rises when people lose confidence in other assets.
For centuries, gold has been used as both currency and a store of wealth. Whenever investors feel uncertain about markets, they usually turn to gold as a secure option.
Last year, Pakistan also changed the method used to calculate gold prices. Under this system, the local price of gold is set $20 per ounce higher than the international market rate.
Reported by Save Our Pak
