KARACHI – The last day of the month of February saw a big fall in the price of gold, resulting in a blow of Rs 2,500 per tola.
According to the All Pakistan Sarafa Gems and Jewellers Association, the price of gold per tola rose to Rs 3,500 after the reduction. The price of ten grams of gold also decreased by Rs 2,139 to Rs 257,639.
Gold prices also fell sharply in the global market, where the price fell by $27 to $2,863 per ounce. However, the entire month of February saw a total increase of Rs 8,700 despite the volatility in the price of gold. The increase reflects changes in gold prices in global markets, fluctuations in the value of the dollar, and domestic economic conditions.
According to experts, this decrease in gold prices may be temporary, as the demand for gold is likely to increase due to global economic instability and geopolitical tensions. Investors are advised to keep a close watch on price changes and make investment decisions with caution.