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Commodities

Gold Price Plummets in Pakistan Amid Investor Confidence Crisis

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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.

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