Gold Prices Remain Stable In Pakistan Despite International Price Reductions
Despite decreasing rates in the international market, gold prices in the domestic market remained unchanged on Thursday.
According to data from the All Pakistan Gems and Jewellers Association, the per tola and per 10-gram gold prices were reported at Rs213,700 and Rs183,213, respectively. In the international market, the price of gold decreased by $13, settling at $2,032 per ounce.
Similarly, silver prices also remained stable at Rs2,600 per tola and Rs2,229.08 per 10 grams. The previous day, gold prices had experienced a significant dip, with the per tola price plunging by Rs3,600 to close at Rs213,700 on Wednesday.
Amidst the ongoing air strikes and diplomatic tensions between Pakistan and Iran, the stability in gold prices provides a contrasting narrative to the economic challenges faced by the nuclear-armed country during one of its worst economic crises in recent times.
The persistent tensions have not only affected the gold market but also had an impact on the Pakistan Stock Exchange (PSX). On Thursday, the benchmark KSE-100 Index witnessed a decline of 770.12 points, reaching 62,797.21, as indicated by data shared on the PSX site. Experts attribute this sudden downward shift to the skirmishes between Pakistan and Iran near the southwestern border.