Gold prices have plunged by over Rs. 15,000 per 10 grams as they resumed trading after a month-long hiatus. The sudden drop follows a period of uncertainty in global financial markets and a strengthening of the US dollar. Investors had awaited the resumption of trading amid concerns about inflation and rising interest rates.
After a one-month pause, the All-Pakistan Sarafa Gems and Jewelers Association (APSGJA) released gold rates, revealing that the price of bullion has dropped below Rs200,000 per tola. This decline highlights the fluctuating nature of the gold market and its response to various economic and global factors.
The All-Pakistan Sarafa Gems and Jewelers Association (APSGJA) reported a significant drop in gold prices, with 24-carat gold falling by Rs15,500 per tola and Rs13,546 per 10 grams. This data indicates that gold now stands at Rs199,500 per tola and Rs171,039 per 10 grams, reflecting recent shifts in the precious metal market.
The last bullion rates were released on September 12, with gold priced at Rs215,000 per tola. Since then, there has been a notable decrease of Rs15,500 per tola, highlighting the significant decline in gold’s value within this period. This fluctuation reflects changes in global economic conditions and market dynamics.