ISLAMABAD: Unlike the international market, the gold price in Pakistan witnessed a significant decline on Tuesday.
Interestingly, the price of the precious metal rose in the global market, the price of gold went down in Pakistan.
According to All-Pakistan Sarafa Gems and Jewellers Association, the price of 24 karats of gold went down by Rs2,300 per tola on Tuesday to settle at Rs228,100 against Rs230,400 on Monday.
The price of 10 grams of gold decreased by Rs1,972 to settle at Rs195,559.
Like the gold price, the white plate (silver) also witnessed a decline of Rs100 per tola to settle at Rs2,650 and 10 grams at Rs2,271.94.
Meanwhile, the gold’s price in the international market increased by $24 to settle at $1,964 per ounce.
Gold Price in Pakistan
The gold price has been fluctuating in the local market for the last couple of months, mostly appreciated, due to ongoing financial unrest and the depreciation of the local currency.
During the first week of May, the gold price in the local market reached its historic high of Rs2,40,000 per tola. However, the last couple of days have witnessed a significant and consecutive decline in the price of gold.
During the previous two days, the price in the local market has decreased by Rs3,300.
