On Thursday, May 30, the price of gold in Pakistan dropped by Rs. 1500 to Rs. 241,200 a tola in the local market.
The All Sindh Sarafa Jewellers Association reports that the price of ten grams of 24-karat gold dropped by Rs 1286 and is currently being sold for Rs 206,790.
These fluctuations are strongly correlated with shifts in the US dollar’s value, demonstrating the tight connection between gold prices and exchange rates. This highlights the ways in which factors associated with the global economy affect local gold markets.
The price of gold fell by 17 dollars to 2335 dollars per ounce internationally as well.
