RAWALPINDI: March ,21,2023: Gold dropped by Rs 5000 per tola in just one day in the local market .
The price of precious metal reduced from last day’s value of Rs 206500 per tola to Rs 201000 for 24 Carat on Tuesday.
The gold showed downward trend in local market after experiencing upward trend for consective five sessions.
Pakistan gold market is extremely volatile in these days. Gold and all major currencies are showing quick volatility for months .
Pakistan’s economic crisis and fast devaluing currency is biting the buyers of gold as well as major currencies like USD, Saudi Riyal, Dirham, Pound sterling , Euro and Japanese yen.
Pakistan’s currency has lost massively in terms of value during the last half years and it has hit the people very badly. The people have been in serious problem due to quick devaluation of the rupee.
According to Markazi Sarafa Union here, gold rates has shown downward trend today and it traded at Rs 201000 per tola for 24 Carat against its last day’s value of Rs 206500.
Likewise , gold rates for 22 Carat per tola also reduced to Rs 194700. The rates of 10 gram gold for 24 Carat reduced to Rs 172325 and Rs 166925 of 10 gram of 22 Carat .
Silver rates remained stable at Rs 2200 a tola in the local market .