Gold price decreases in Pakistan as rates fall again

The gold price decreases in Pakistan as the local market saw another drop in rates. According to traders, gold became cheaper today, giving some relief to buyers across the country. The decline also reflects the downward trend seen in the international market.

The All Pakistan Gems and Jewellers Association reported that the price of 24-karat gold per tola has fallen by Rs1,700. With this decrease, the new price has reached Rs441,462 per tola. Sellers say the market is currently experiencing low demand, which is contributing to the continued decline.

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The association added that the price of 10 grams of gold has also dropped by Rs1,457. After the latest decrease, the new price stands at Rs378,482 for 10 grams. Many local jewelers believe fluctuations may continue in the coming days.

In the international market, gold has also shown a downward movement. Global gold prices fell by 17 dollars and have now slipped below the psychological level of 4,200 dollars per ounce. The new international price is recorded at 4,191 dollars per ounce.

Market experts say the recent fall is linked to global economic factors and reduced investor interest. They expect prices to remain unstable in the short term as the gold price decreases in Pakistan alongside international market weakness.