KARACHI – Gold recorded downward trend in domestic market of Pakistan on Saturday amid dropping global prices.
Data shared by All Pakistan Gems and Jewellers Association showed per tola gold price plunged by Rs1,200 to settle at Rs275,700.
Similarly, the price of 10-gram gram closed at Rs236,368 after witnessing a decline of Rs1,029 in local market.
The bullion rates also witnessed bearish trend as per ounce price dipped $18 to reach $2,639 in international market.
A day earlier, the precious commodity witnessed gains in both local and international markets. The price of 24-karat gold rose by Rs2,200 per tola, bringing it to Rs276,900 per tola on Friday.
Similarly, the price of 10 grams of gold saw an increase of Rs1,886, reaching Rs237,397.
Market analysts attribute this rise to fluctuations in global economic conditions and increasing investor demand for safe-haven assets. Traders anticipate that gold prices may remain volatile in the coming days, influenced by international trends and currency exchange rates.
