Gold Price in Pakistan Drops Marginally on New Year’s Eve

On New Year’s Eve, the price of gold in Pakistan experienced a slight decrease. According to the All Pakistan Sarafa Gems and Jewellers Association, the price of gold per tola dropped by Rs200 to settle at Rs183,900. The price of gold on a ten-gram basis also decreased by Rs171, settling at Rs157,665. Despite this small drop, gold prices in Pakistan reached an all-time high in 2022, with the per tola price gaining 45.95% to reach Rs183,900.As a safe haven against inflation, gold saw increased investment during the year as economic and political turmoil made it more appealing to investors. Silver prices in the domestic market remained unchanged at Rs2,070 per tola and Rs1,770.74 per 10 grams. Gold imports in Pakistan also rose 26.43% during the first five months of the current fiscal year compared to the same period the previous year, according to the Pakistan Bureau of Statistics.

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