Gold Price Plummets in Pakistan Amid Investor Confidence Crisis
The price of gold in Pakistan dropped significantly on Saturday, according to rates issued by the All Pakistan Sarafa Gems and Jewellers Association.
24-karat per-tola gold rate fell by Rs4,300 to settle at Rs436,336, while 10 grams of 24-karat gold decreased by Rs3,687 to Rs374,087. The price of 22-karat gold also declined by Rs3,380 to Rs342,925.
In the international market, the price of gold fell by $43 to $4,138 per ounce, as reported by the association. This decline is a sign that investors are losing confidence in gold as a safe-haven asset.