The price of gold fell below the psychological barrier of Rs200,000 for the first time in 23 days on Wednesday.
According to rates for gold issued by the Sarafa Bazaar Association President Al Haj Haroon Rasheed Chand on Wednesday evening, the price of a tola of 24 karat pure gold fell by Rs2,000.
As a result, the price of a tola (11.6 grams) of gold fell to Rs198,000 on Wednesday. This is the first time since January 26, 2023, when the price of gold has fallen to this level.
On January 26, the price of a tola of gold was recorded at Rs195,500. Thereafter, it witnessed an increase of a whopping Rs7,000 in value, jumping to Rs202,500.
Similarly, the price of 10 grams of 24 karat gold fell by RRs1,715 to Rs169,753.
The price of 10 grams of 22 karat gold has also fallen to Rs155,607.
In the international market, however, the price of an ounce of gold increased by $11 to %1,880.