KARACHI: Gold prices in Pakistan slipped further on Tuesday, marking another decline in the precious metal’s value.
According to the All Pakistan Gems and Jewellers Association, the price of 24-karat gold per tola dropped by Rs500, bringing it down to Rs358,300. Likewise, the price for 10 grams of gold fell by Rs429, settling at Rs307,184.
In the international market, gold also saw a modest dip, with the price per ounce sliding by $5 to $3,356.
Gold has long been regarded as a safe-haven asset, often gaining in value during times of inflation, political turmoil, or economic uncertainty. For centuries, it has served both as a store of wealth and a form of currency. Even today, when investors lose confidence in other assets, many turn to gold as a secure investment.
It is worth noting that last year, Pakistan revised its gold pricing formula. Under the new method, the local gold rate is calculated at $20 per ounce above the prevailing price in the international market.
