Gold prices drop in Karachi and globally

Gold prices in Karachi and Pakistan saw a decrease on Saturday, according to the All Pakistan Gems and Jewellers Association (APGJA). The price of one tola of gold dropped by Rs200 to Rs240,000, while 10 grams of gold now cost Rs205,761 after a decrease of 172 rupees.

Simultaneously, the global bullion market also experienced a decline in gold prices, with the price per ounce falling by $5 to $2333.

Gold prices are influenced by various factors such as global economic conditions, geopolitical events, and market speculation. Investors often turn to gold as a safe-haven asset during times of uncertainty, which can impact its price fluctuations.

The recent decrease in gold prices in Karachi and globally may be attributed to a variety of factors affecting the precious metal market. It is essential for investors and consumers to stay informed about these fluctuations to make well-informed decisions regarding their gold investments.