In a dramatic shift, gold prices in Pakistan took a sharp plunge on Wednesday, offering a surprising breather to buyers and investors. According to the latest market update, the price of 24-karat gold dropped by Rs5,900 per tola, settling at Rs242,400.
This sudden decline also reflected in 10-gram rates, which slid by Rs5,059, bringing the price down to Rs207,733.
Why Did Gold Prices Fall?
The gold market often mirrors global economic conditions. This drop is largely attributed to a slight decline in international gold rates, where the global price stood at $2,352 per ounce, showing a $9 decrease.
Recent Trends & Volatility
Gold prices have seen frequent fluctuations in recent weeks due to uncertainty in international markets, changes in dollar rates, and local demand dynamics.
📌 “The price drop is temporary, but smart investors always act during such dips,” said a Karachi-based jeweller.
Is This a Good Time to Buy?
With this major price correction, many investors are seeing a golden opportunity to buy at relatively lower rates, especially considering Pakistan’s traditionally high inflation and uncertain currency strength.
🧠Expert Advice:
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If you’re looking to buy gold for investment, this could be an ideal window.
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Jewellery buyers may also benefit from reduced making charges during such drops.
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