Pakistan: massive decline in gold price

KARACHI: In a surprising twist, the price of gold per tola has taken a sharp dip, plummeting by a remarkable Rs5,800 on Thursday.

Just a day ago, a tola of gold was valued at Rs2,16,500, but now, it has declined to Rs2,10,700 rupees.

This remarkable reduction has had a ripple effect on smaller quantities as well.

The price of 10 grams of gold has also seen a substantial drop, falling by Rs4,972.

Previously priced at Rs1,85,614 for 10 grams, it can now be obtained for a more accessible Rs1,80,642.

Experts are closely monitoring this volatile situation, attempting to decipher the reasons behind these rapid price fluctuations. While some attribute it to global economic trends, others speculate that local factors may also be contributing to the instability.

Crackdown on Dollar speculation: exchange companies begin to deposit dollars with SBP

Gold prices in Pakistan often follow the international market, but can also be influenced by domestic supply and demand, currency movements and government policies.

The international spot gold price was down 0.3% at $1,816.86 per ounce by 1159 GMT on Tuesday, after hitting a more than one-month high on Monday.

People are keeping a keen eye on the market as they navigate this unpredictable journey in the world of gold prices.