KARACHI (Web Desk) – The price of gold in Pakistan saw a major drop on Tuesday, giving some breathing room to jewellery buyers who have been feeling the pinch.
According to the All Pakistan Gems and Jewellers Association, the per-tola price of gold fell by Rs10,700, bringing it down to Rs459,462.
The association added that the price of 10 grams of gold also slipped by Rs9,174, now standing at Rs393,914. For many, this sudden dip has come like a “silver lining,” as gold prices have remained sky-high for months.
Meanwhile, in the international market, gold also took a nosedive. Global prices dipped by 107 dollars, settling at 4,371 dollars per ounce. Analysts say the drop reflects global economic uncertainty, where investors are keeping their cards close to their chest.
Jewellers believe that while this fall has taken the market by surprise, “every cloud has a silver lining,” and buyers may now step back into the market, especially ahead of the winter wedding season.
However, they also warn that gold prices can change overnight, and “the ball is still in the court” of global markets.
