Pakistan's gold price is declining in accordance with the worldwide trend.


On Saturday, the price of gold decreased for a second session, following the general trend around the world.

According to data provided by the All-Pakistan Sarafa Gems and Jewellers Association (APSGJA), the cost of gold (24 carats) has decreased by Rs. 600 per tola and Rs. 514 per 10 grams.

After the most recent rate change, the new price of precious metal fell to Rs221,800 and Rs190,160.

The safe-haven gold has experienced multiple losses over the course of a few weeks, and as a result, has dropped from Rs 224,000 per tola.

Gold's cost on the world market decreased by $4 and reached $1,914 for an ounce.

Despite economic unpredictability, skyrocketing inflation, and a significant devaluation of the local currency, gold remained volatile in the crisis-hit nation. Investors choose to purchase gold during the crisis as


Friday saw a dip in the price of gold on the global market, which also affected the value of safe-haven metal in Pakistan.

According to information provided by the All Pakistan Sarafa Gems and Jewellers Association (APSGJA), the price of gold (24 carats) decreased by Rs6,500 per tola and Rs5,573 per 10 kilos to reach Rs230,800 and Rs197,874, respectively.

The price of gold on the world market dropped by $33 to settle at $2,005 per ounce.

Analysts have predicted that due of the ambiguity surrounding Congress' decision to raise the United States' debt ceiling, the foreign exchange rate will vary during the month of May.

Due to a variety of circumstances, including economic and political unrest, high inflation, and currency depreciation, gold prices have been rising in Pakistan about every other day. In these circumstances, people prefer to purchase gold as a hedge and a safe investment.

Despite months of negotiations, the government has not yet signed a staff-level agreement with the IMF for the release of a critical economic bailout, despite warnings from international organizations that Pakistan may default after the talks are complete.



The rupee hit a new low of Rs300 versus the US dollar on May 11, and the country's foreign exchange reserves are at a critically low level, not enough for even one month's imports.

Along with this, violent protests have been erupting for days following the arrest of the PTI chairman, and inflation has hit a record high and is the highest in South Asia. 

In accordance with the general trend, the price of gold dropped in Pakistan on Saturday.

Following several days of steady growth, gold prices are again falling on both the international and domestic markets.

The price of gold dropped by $4 to $1955 per ounce on the international market.

The local market has also felt the effects of the global market, as the cost of gold per tola has dropped by Rs1,300 to Rs213,200.

Similarly, the cost of gold dropped from Rs167,553 per 10 grams to Rs1,115.

Although the causes of the drop in gold prices are unknown, some analysts think it can be related to the strengthening of the US dollar.

The US currency is gaining strength.