In line with changes in the global market, the price of gold in Pakistan fell on the last day of the previous week. The price of gold (24 carats) decreased by Rs 2,050 per tola and Rs 1,758 per 10 grams to reach Rs 227,250 and Rs 194,830, respectively, according to data published by the All Pakistan Sarafa Gems and Jewellers Association (APSGJA). The price of gold dropped $4 to close at $1,961 per ounce on the world market today. As a result, the rate on the domestic market decreased as well. The prices of yellow metal decreased by Rs5,450 overall during the week that concluded on June 10.
Recent political and economic unpredictability, rising inflation, and currency depreciation have all contributed to the fluctuating gold price in Pakistan. In these circumstances, people prefer to purchase yellow metal as a hedge and a safe investment. Prior to the budget for the fiscal year 2023–2024, the price of bullion rose after a five-day dip due to a little decline in the value of the rupee against the dollar. The association’s data revealed that the price of silver remained steady at Rs. 2,650 per tola and Rs. 2,271.94 per ten grams.