ISLAMABAD: The per tola price of 24 karats of gold went down by Rs600 while that of 10 grams decreased by Rs514 on Saturday to settle at Rs221,800 and Rs190,158, respectively, as reported by All-Pakistan Sarafa Gems and Jewellers Association (APSGJA).
However, the per tola and 10 grams price of the white plate (Silver) observed no change and settled at Rs2,750 and Rs2,357.68, respectively.
Meanwhile, the price of the precious metal in the international market went down by $4 to settle at $1,914 per ounce.
Fluctuating Gold price in Pakistan
The gold price in Pakistan remained highly volatile during 2023 due to recent political and economic unrest and the shrinking of other sectors. The investors preferred to invest in gold to secure their investment.
Consequently, the price of the precious metal raised to an alarming level and recorded the highest ever at Rs 240,000 per tola on 10th May 2023. However, after successful talks with the IMF on the $3.2bn standby agreement, the local market improved, and the price of the yellow metal went down to Rs 2,04500 in the middle of July 2023. Bullion experts say the price would still remain volatile until the improvement of the local currency, possibly in December this year.
