Gold price remains unchanged in Pakistan

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 Monday as demand dimmed ahead of festive season.

What sets apart this gold price stability in Pakistan's local market is that it has settled at a time when the rates of yellow metal dipped, very slightly though, in the international market.

According to the data released by the All-Pakistan Sarafa Gems and Jewellers Association (APSGJA), the price of gold (24 carats) remain settled at Rs214,300 per tola and Rs183,728 per 10 grams with no change incurred upon them.

Meanwhile, the slight downtick of $2 observed in yellow metal's rate in the international market brought the price down to $2043 from $2045 market recorded a day earlier.

Similarly, the price of silver remained unchanged at a rate of Rs2,600 per tola and Rs2,229.08 per 10 grams, according to the data disclosed by the association.

The volatility and steadiness in gold prices in Pakistan is driven by political and economic instability, as well as increasing inflation and devaluation of the currency.