In a significant development for precious metal markets, gold prices saw a sharp decline both locally and internationally on Monday. The rate per tola (11.66 grams) of 24K gold fell to PKR 225,200, marking a major decrease in the price of this popular investment and jewelry commodity.
This downward trend aligns with global shifts, as international markets experienced a similar price drop. Economic analysts attribute the fall to changing investor sentiment amid signs of stability in global financial conditions. Gold, traditionally a safe-haven asset, often fluctuates as investors reassess its appeal against alternative investments, including currencies and bonds, particularly when the U.S. dollar strengthens.
The price adjustment brings temporary relief to consumers, especially as the wedding season approaches in Pakistan. Many families are now taking advantage of the decreased rates to make purchases previously postponed due to high prices.
