Gold prices seem to be going down after touching the highest ever peak of Rs277,000 per tola in the previous month.
On Wednesday, the price for 24-karat gold in Pakistan dropped by a whopping Rs3,000 per tola unexpectedly and was recorded at Rs271,700 in the local bullion market.
This means the price is now Rs5,300 per tola down from the all-time high level seen in September 2024. So, is it a good time to buy gold in Pakistan? Maybe… or maybe not as the price may drop even further in the coming weeks.
Along with the per tola, ten-gramme gold rates are also down by Rs2,572 as the All-Pakistan Gems and Jewellers Sarafa Association (APGJSA) reported the price for ten-gramme to be at Rs232,939.
Since the start of this week, gold rates have declined Rs4,000 per tola within two days.
In the previous week, the total loss gold suffered was of Rs500 per tola only.
The international rate of gold was also seen down, according to the APGJSA, the price was recorded at $2,617 per ounce, including a premium of $20, and down by $30.
Not surprisingly, the price of silver remained unchanged at Rs3,050 per tola in the local market.
