Gold remains under pressure in Pakistan; Check today gold rates here


Gold prices in Pakistan continued to decline on Friday, 9th December 2023, remaining under pressure from a strengthening Pakistani rupee and a steady global market. As of 11:30 AM PKT, the price of 24-karat gold per tola was PKR 217,600, down PKR 500 from the previous day's close. The rate for 22-karat gold was PKR 199,560 per tola, showing a similar decrease.
Analysts attribute the fall in gold prices to the recent appreciation of the Pakistani rupee against the US dollar. The rupee has gained over 2% in the past week, making gold imports cheaper and reducing demand for the precious metal domestically. Additionally, the global gold market has remained relatively stable, with prices hovering near their current levels for the past few days. 



 Despite the recent decline, gold prices in Pakistan are still significantly higher than they were earlier in the year. The upward trend is expected to continue in the long term, driven by factors such as rising inflation and geopolitical uncertainty. However, investors should be aware of the risks associated with investing in gold, as the market can be volatile and unpredictable.

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