Gold Rates Plummet in Pakistan Amid US-China Tensions
The decline in gold prices is a result of global economic uncertainties and US-China tariff tensions, with silver prices increasing by Rs40 to Rs3,497 per tola, providing an alternative for investors and consumers in the market.
Gold prices in Pakistan decreased significantly, with a drop of Rs3,300 per tola and Rs2,833 per 10-gram, reaching Rs348,700 and Rs298,950 respectively, due to escalating US-China tariff tensions and global economic uncertainties.
The international rate of gold also decreased by $33 per ounce, contributing to the downward trend in gold prices globally. In contrast, silver prices in Pakistan increased by Rs40 to settle at Rs3,497 per tola. The All-Pakistan Gems and Jewellers Sarafa Association (APGJSA) monitors gold prices in Pakistan, which have been affected by the global economic climate.
The decline in gold prices is not limited to Pakistan, as international gold prices dropped by $116 per ounce to $3,338. This significant decrease is attributed to the heightened market volatility caused by global economic uncertainties. The impact of US-China tariff tensions on the global economy has led to a decrease in gold prices worldwide.
As the global economic situation continues to evolve, it is likely that gold prices in Pakistan and internationally will remain volatile. The increase in silver prices, however, provides an alternative for investors and consumers. The current gold rates in Pakistan are Rs348,700 per tola and Rs298,950 per 10-gram, making it an important factor to consider for those invested in the gold market.