The price of gold in Pakistan decreased for the second time during the current week to close at Rs. 232,600 per tola.
According to the data released by All-Pakistan Sarafa Gems and Jewellers Association (APSGJA), the price of gold (24 carats) went down by Rs. 1,000 per tola to Rs. 232,600 while the price of 10 grams went down by Rs. 857 to Rs. 199,417.
The price of gold has remained relatively stable during the current week after witnessing volatility in price in the previous week. The price of gold increased by Rs. 1,100 per tola on Monday but declined by Rs. 2,000 per tola on Tuesday before holding ground on Wednesday.
On Thursday, the price of gold saw an increase of Rs. 500 per tola. Today’s decline means that the price of gold has gone down by Rs. 1,400 per tola during the current week. This is in stark contrast to an increase in the price of Rs. 8,500 per tola last week.
In the international market, spot gold went up by 0.3 percent to $1,964.09 per ounce by 1110 GMT, while US gold futures jumped 0.4 percent to $1,967.80.
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People should avoid buying for prices to actually come down. Few hundreds down is nothing but lollipop. I think people are mature enough now.
Considering international market,US economy is on the start of default.
Considering local condition, Pakistan economy has not yet stood on its feet.
Both factors suggest that people should keep their wealth in gold 🥇.
Rather buying US dollars, should buy actual/final currency, that is gold.
Gold 🥇 is an actual hedge against inflation.
Whole world is going on bad inflation.
Those who can afford should buy each dip on price.