The price of gold in Pakistan fell dramatically the day after hitting a record high.
According to a report released on Friday by the All-Pakistan Gems and Jewellers Sarafa Association, the cost of a tola of 24-karat gold decreased by Rs3,000, reaching a record-breaking Rs251,000.
The cost of 24-karat gold weighing ten grams also saw a decline, falling by Rs 2,572 to Rs 215,192.
On Friday, 10 grams of 22-karat gold cost Rs 197,259.
There was also a downward trend observed in the global gold market. The global rate was down $55 on Friday to $2,415 per ounce, according to APGJSA.
In the local market, the price of silver dropped by Rs50, trading at Rs2,850 per tola.
Market analysts cite a number of reasons for the increase in gold prices, such as changes in the global economy, exchange rates, and the state of the international market. In the upcoming days, consumer behavior and investment decisions may be impacted by the ongoing rise in gold prices.
