Gold Prices Drop Sharply After Reaching Record Levels
Gold Price Drops Over Rs9,000 per Tola in Pakistan
On the fourth day of the trading week, gold prices in Pakistan saw a significant decline.
According to the Sarafa Bazaar Association, on Thursday, the price of one tola of gold fell by PKR 5,000, reaching PKR 426,562.
Similarly, 10 grams of gold dropped by PKR 4,286, bringing its price to PKR 365,708.
The main reason for rising gold prices in Pakistan is increasing global demand and the depreciation of the Pakistani rupee.
On the international level, geopolitical tensions, economic slowdown, and increased gold purchases by central banks have contributed to the upward trend. Additionally, expectations of a reduction in US interest rates are another key factor influencing the market.
Meanwhile, global financial institution Morgan Stanley has predicted that gold prices could reach new heights in the coming years.
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