On Saturday, the gold market in Pakistan experienced a notable reversal, shedding gains witnessed the previous day. Data released by the All Pakistan Gems and Jewellers Association indicated a decline in gold prices, with per tola gold losing Rs1,700 to settle at Rs216,000. Similarly, the price of 10 grams of gold dropped by Rs1,458, closing at Rs185,185.
This contrasted with the significant surge observed on Friday when the per tola gold price jumped by Rs1,500, reaching Rs217,700, and the 10-gram gold price increased by Rs1,400 to Rs186,643. The volatility in gold prices reflects the sensitivity of the market to various factors, including global economic conditions, geopolitical events, and currency fluctuations.
Notably, the international gold market also experienced a decline, with the per ounce price decreasing by $15 to $2,039. This synchronized movement in both domestic and international markets underscores the interconnectedness of the global economy.
