RAWALPINDI: May 30, 2023: A big drop has been witnessed in gold prices in Pakistan on May 30. According to Markazi Sarafa Unon , gold prices reduced by Rs 4500 per tola in the local market . The gold price per tola for 24 carat in Rawalpindi is recorded at Rs 228500. Yesterday, the price of precious metal was recorded at Rs 232000.
The price of one tola gold for 22 carat also reduced by Rs 3400 per tola. The price of one tola gold for 22 carat today is recorded at Rs 221400 against its last day’s rates of Rs 224800 . The rate of 10n gram gold for 24 carat is Rs 195900 and the price of 10 gram gold for 22 carat is Rs 189815 . The price of one tola gold (bar) today is Rs 235000 . Silver price today per tola in the local market was recorded at Rs 3150 in the local market. It showed an increase of Rs 100 per tola in the local market.
Gold market of Pakistan is bullish for the last couple of months for two reasons. One- devaluation of the rupee and the second-surge of the value of gold in international market. In Pakistan market , the buyers of gold are facing double-edged disadvantage . They are fast losing their buying power as a result of unprecedented inflation and at the same time this precious metal is becoming costlier for them due to uncontrollable downfall trend in the value of the local currency against US dollar. Uncertainty in currency market is impacting directly to the gold market and its only loser is potential buyer of gold.
