KARACHI: Gold prices in Pakistan witnessed a slight dip on Thursday after reaching an all-time high, in line with their decrease in international rates.
According to the All Pakistan Gems and Jewellers Association, the price of gold per tola has decreased by Rs900, bringing it down to Rs298,700 per tola.
Similarly, the price of 10 grams of gold has dropped by Rs772, now standing at Rs256,087.
Meanwhile, in the international market, gold prices have declined by $9, reaching $2,859 per ounce.
Gold is often seen as a safe haven during economic and political uncertainty, but when interest rates rise, its shine fades since it doesn’t offer any returns like other investments.
On Wednesday, the price of 24-karat gold surged by Rs5,300 per tola, reaching a historic high of Rs299,600 per tola.
