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Gold price in Pakistan falls by record PKR 43,600 per tola

Since the start of the U.S.-Israel-Iran war, the price of per tola gold has gone down by PKR 102,800

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Haris Zamir

Business Editor

Experience of almost 33 years where started the journey of financial journalism from Business Recorder in 1992. From 2006 onwards attached with Television Media worked at Sun Tv, Dawn Tv, Geo Tv and Dunya Tv. During the period also worked as a stringer for Bloomberg for seven years and Dow Jones for five years. Also wrote articles for several highly acclaimed periodicals like the Newsline, Pakistan Gulf Economist and Money Matters (The News publications)

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Gold price in Pakistan falls by record PKR 43,600 per tola
Gold bangles are displayed at a jewelery store.
Reuters

Gold prices in Pakistan plunged on Monday in the largest single-day drop on record, tumbling by PKR 43,600 per tola amid global market volatility and rising geopolitical uncertainty.

The price of 24-karat gold fell to PKR 447,762 per tola, down from PKR 491,362 at the previous close, according to the All Pakistan Sarafa Gems and Jewelers Association.

On Feb 28, the price of gold per tola in the domestic market was PKR 550,562 and that of 10 grams was PKR 472,018. On March 23, the rate plunged to PKR 447,762 per tola and PKR 383,883 per 10 grams.

Since the start of the U.S.-Israel-Iran war, the price of per tola gold has gone down by PKR 102,800 while that of 10 grams has nosedived by PKR 88,135.

Analysts attributed the sharp decline to increased selling by gold funds and high-net-worth investors seeking liquidity, as fears grow over prolonged geopolitical conflicts and their potential economic fallout.

The drop marks a dramatic reversal after gold reached an all-time high of PKR 572,862 per tola on Jan. 29, underscoring heightened volatility in the precious metals market.

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