Gold prices in bullion markets across Pakistan have declined for the second day as per Tola price dropped Rs 7100 while price of 10 gram reduces to Rs 6087.
According to the All Pakistan Bullion Gems and Jewelers Association, the price of gold per tola in the country has decreased by Rs 7,100 to Rs 533,262. The price of 10 grams of gold in the country has decreased by Rs 6,087 to Rs 457,186.
On the other hand, the price of gold in the global market has decreased by $ 71 to $ 5,105 per ounce. It should be noted that the price of gold per tola had decreased by Rs 2,900 yesterday.
Meanwhile Faced with mounting storage fees and funding costs, UAE-based traders have begun offloading their inventory at prices approximately $30 per ounce lower than the London global benchmark.
The UAE, particularly Dubai, serves as a critical axis for the global gold trade. It acts as a primary export gateway to Asia and a vital transit point for gold arriving from Switzerland, the United Kingdom, and various African nations. The current disruption highlights the vulnerability of these supply chains to regional geopolitical instability
Read also: Gold prices increase in Pakistan, check latest rates here
