Pakistan Gold Prices Plummet by Rs2,100 per Tola Amid Weaker International Market

Gold prices in Pakistan have fallen by Rs2,100 per tola, dropping to Rs450,936, according to rates released by the All-Pakistan Gems and Jewellers Sarafa Association (APGJSA). This decline follows a weaker international market, where gold prices have also decreased.

The price of 10-gram gold has also declined by Rs1,800 to Rs386,604. The fall in gold prices comes just a day after the metal recorded a sharp increase in the local market, with prices rising by Rs4,700 per tola to Rs453,036 on Friday.

The decline in gold prices can be attributed to higher US Treasury yields and concerns about inflation, which have reduced demand for the precious metal. Analysts say that gold has become less attractive due to its lack of interest-bearing capabilities, making it a less desirable investment option compared to other assets.