Gold price in Pakistan remains static for second consecutive day

Price of per tola gold remains stable at Rs 214,300
An undated image of gold bars. — Canva

An undated image of gold bars. — Canva

Gold price in Pakistan remained unchanged on Tuesday for third consecutive day in wake of the fading demand ahead of festive season.

The persistent halt settled on the fluctuation in gold rates in Pakistan is mirroring the unchanged cost of the yellow metal in the international market.

The price of gold (24 carats) in Pakistan remains stable at Rs214,300 per tola and Rs183,728 per 10 grams without registering any changes, as per the data released by the All-Pakistan Sarafa Gems and Jewellers Association (APSGJA).

However, unlike a slight decline observed in gold rates in the international market a day earlier, the commodity did not record any changes today. Given that, the listed cost of gold in the international market stayed at $2043 on Tuesday.

In the same way, the cost of silver stayed the same at a rate of Rs2,600 per tola and Rs2,229.08 per 10 grams, as per the information revealed by the association.

Both the fluctuation and stability in gold prices in Pakistan are influenced by political and economic uncertainty, along with rising inflation and devaluation of the currency.