Gold prices in Pakistan dropped by Rs1,700 on Thursday, marking a decrease for the third consecutive day.
According to the All Pakistan Gems and Jewelers Association, the price of one tola of gold in the country has decreased by Rs1700, after which the price per tola is Rs283,000.
The price of 10 grams of gold decreased by Rs1457 to Rs242,627. The price of gold in the global exchange market decreased by $17 to $2735 per ounce.
Separately, Gold prices in Pakistan reached an all-time high in October marking a significant increase from the previous month, according to the Karachi Sarafa Association.
Read More: Govt jacks up LGP price for November
Gold prices are surging due to several factors, including rising tensions in the Middle East, uncertainty over the upcoming U.S. elections, and a pivot toward more accommodative monetary policies.
According to market analysts, global economic turmoil has attracted more yield consumers toward gold, positively impacting demand and driving prices to all-time highs.
