Due to decrease in gold prices in the global market, gold per tola has become cheaper by thousands of rupees in Peshawar and today the gold per tola was sold on Rs 494062.
According to the details, the price of gold in the global bullion market has been felt on the local market of Pakistan, where the price of 24-karat gold has seen a huge decline of Rs2700 per tola. After this significant decline, the new price of one tola of gold in the country has been set at Rs494,062.
Similarly, the price of 10 grams of gold has also been recorded to have decreased by Rs 2315, after which 10 grams of gold is being sold at Rs. 423,578 in local markets. Economists say that the improvement in the value of the US dollar globally and the sale of gold by international investors to make profits have put pressure on prices, due to which prices have come down.
On the other hand, unlike the decline in gold prices, silver prices have seen a slight increase instead of stability. The price of silver per tola in the local market has increased by Rs. 80 to Rs. 8,525, while the price of 10 grams of silver was recorded at Rs. 7,308.
According to the Sarafa Association, the recent decline in gold prices could prove to be a good opportunity for buyers who were waiting to buy for the wedding season. Market sources say that if the dollar further stabilizes in the global market, there is a possibility of further decline in gold prices.
Read also:Gold prices drop after recording big rise previous day
