Karachi: Gold prices in Pakistan experienced a significant decline on Tuesday dipping by Rs 7,800 per tola – the major single-day decline in recent times.
According to the sources this marks the first such a substantial drop in Pakistan’s gold market history.
Following the decrease, the price per tola of gold now stands at Rs 240,900. The price of 10 grams of gold also witnessed a reduction of Rs 6,687, bringing the 10-gram price of gold to Rs206,533.
This decline is attributed to a decrease in the global market price, where prices fell by $72 per ounce.
According to the all-Pakistan Sarafa Gems and Jewellers Association (APSGJA) the drop in gold prices is linked to the easing of tensions between Iran and Israel. Previously, escalating tensions had contributed to a rise in gold prices.
