- 24 carat gold fell by Rs 800 to Rs 227,300 per tola.
- In the last three days, the price of gold has decreased by Rs 4100.
- Silver price closed at Rs 2600 with a decrease of Rs 50.
Gold prices in Pakistan continued to fall for the third consecutive day as it fell by Rs 800 per tola on Wednesday.
According to the data released by All Pakistan Sarafa Gems and Jewelers Association (APSGJA), the price of 24 karat gold fell by Rs 800 to Rs 227,300 per tola and 10 gram gold price decreased by Rs 686. It was settled after 194,873 Rs.
Meanwhile, gold prices in the international market settled at $1,961 an ounce, down $3.
Gold prices were volatile in the domestic markets during the outgoing week and fell to Rs 1,600 last week (June 3). In the last three days, the price of gold fell by Rs 4100 per tola.
Gold rates have fluctuated recently amid ongoing political and economic uncertainty, high inflation and currency devaluation in Pakistan. People prefer to buy the yellow metal as a safe investment and as a hedge.
Data shared by the association showed that silver prices fell by Rs 50 to close at Rs 2,600 per tola and Rs 2,229.08 per 10 grams respectively.
According to the Jewelers Association, the price of gold in Pakistan is Rs 4000 less than the Dubai gold market.
Meanwhile, the local currency depreciated by Rs 0.33 or 0.11 per cent against the greenback to close at Rs 286.88 interbank on Wednesday.