The gold market in Pakistan has witnessed a notable dip, as reported by the All Pakistan Gems and Jewellers Association. The price of gold per tola has decreased by Rs 1,000, now at Rs 265,500. Alongside this, the price of 10 grams of gold has dropped by Rs 857, bringing it to Rs 224,194. This downward trend is also reflected in the global market, where the price of gold has fallen by $5, now at $2,498 per ounce.
| GOLD PURITY | PER TOLA | PER 10 GRAM |
|---|---|---|
| 24K | Rs. 265,500 | Rs. 227,623 |
| 22K | Rs. 243,438 | Rs. 208,655 |
| 21K | Rs. 232,372 | Rs. 199,171 |
| 20K | Rs. 221,306 | Rs. 189,686 |
| 18K | Rs. 199,176 | Rs. 170,718 |
Historically, gold has been viewed as a secure investment, especially during periods of inflation, political unrest, and economic uncertainty. Investors often gravitate towards gold when other assets seem unstable, making it a valuable refuge.
Gold has held its status as a symbol of wealth and currency for centuries. However, last year marked a shift in how gold prices are determined in Pakistan. The new method set the price at $20 per ounce higher than the international market rate, impacting the local gold market dynamics.
This recent decrease in gold prices may influence investment decisions, but the precious metal’s enduring value remains a focal point for those seeking stability in uncertain times.
