ISLAMABAD: Despite an increase in the international rate, like once in a blue moon, the price of the precious metal in Pakistan went down for the second consecutive day on Tuesday.
According to All Pakistan Sarafa Gems and Jewellers Association price of 24 karats of gold decreased by Rs1,700 per tola to settle at Rs232,800, and 10 grams of 24 karats of gold went down by Rs1,458 to close at Rs199,588.
On Monday, the gold price recorded the same decrease of Rs 1700. However, during the first week of May, the price of the yellow plate reached its record high of Rs 2.40000 per tola.
Meanwhile, the price of the silver per tola and 10 grams remained unchanged and settled at Rs2,850 and Rs2,443.41, respectively.
Gold Price at International Market
Unlike the previous couple of weeks, despite a decrease in the Pakistani market, the price of the yellow metal went up by $11 to settle at $1,956 per ounce. Recent days have witnessed a decline in price in the international market against an increase in price in the local market.
Rates in the international market fluctuated due to concerns over negotiations on the US debt ceiling and the greenback’s value.
However, in Pakistan, the precious metal’s price fluctuated due to ongoing political and financial unrest, currency devaluation, and delays in dealing with the IMF.
