In a notable development, the price of gold in Pakistan witnessed a substantial decrease of Rs 4,500 per tola during the month of January, according to the All Pakistan Gems and Jewelers Association. On the final day of January, the price per tola of gold reached Rs 2,15,500, reflecting a decrease of Rs 600.

The association further reported that the price of 10 grams of gold also experienced a decline, dropping by Rs 515 to Rs 1,84,756. These price adjustments come amid fluctuations in the global gold market, where the world price of gold saw a decrease of $2, reaching $2,035 per ounce.

It’s important to note that the world price of gold in Pakistan is calculated at $2,550 per ounce by incorporating a $20 premium. The observed reduction in gold prices in the country during January could have various implications for consumers, investors, and the broader economy. As the All Pakistan Gems and Jewelers Association continues to monitor market dynamics, stakeholders will be keenly observing future trends in the gold market.