Gold Prices Dropped in Pakistan due to the drop in the international market.
Gold Slumps in Pakistan as Global Market Tumbles: Prices Shine Less!
Brace yourself, gold fans, because the shine is coming off in Pakistan! Prices of the precious metal took a nosedive, following a big drop in the international market.
Read More: Today’s Gold Price in Pakistan: 25th Dec 2023
Here’s the lowdown:
- Tumbling Tolas: A tola of gold, previously priced at Rs. 218,000, shed Rs. 1,900, dipping to Rs. 216,100. That’s a 1% decrease – enough to make any investor wince.
- Gram Gloom: 10 grams of gold also felt the pinch, losing Rs. 1,630 and settling at Rs. 185,270. Not great news for those looking to add some sparkle to their jewelry box.
- Global Gloom Spreads: The culprit behind this local dip? A significant $18 plunge in the international gold market, where the price currently sits at $2,047 per ounce.
What’s Next?
It’s too early to say whether this is a temporary blip or the start of a downward trend. Keep an eye on:
- Global market: Will the international price stabilize or continue to sink?
- Local demand: Do Pakistani consumers see this as a buying opportunity or will they hold off?
- Jeweler reaction: How will local jewelers adjust their prices and strategies?
One thing’s for sure: the gold market in Pakistan is in for an interesting ride in the coming days. Stay tuned for updates!
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