KARACHI: Gold prices in Pakistan continued their downward trend on Saturday, with a sharp decline of Rs1,600 per tola.
According to the All Pakistan Sarafa Gems and Jewellers Association, the price of 24-carat gold dropped to Rs349,400 per tola, while the rate for 10 grams decreased by Rs1,371, settling at Rs299,554.
In the global market, gold prices also fell by $16 per ounce, bringing the international rate to $3,274.
This drop follows a major fall of Rs5,000 per tola just a day earlier, which brought local prices down to Rs351,000 after a long period of steady increases.
Traders say the decline is mainly due to falling global prices and cautious investor behaviour.
Meanwhile, Topline Securities shared banking insights, revealing that over 70% of commercial bank accounts in Pakistan hold deposits below Rs50,000. Another 26% have balances between Rs50,000 and Rs1 million, while only 3% of accounts contain more than Rs1 million.
State Bank of Pakistan data also showed that financial inclusion has improved significantly, with the percentage of people owning a bank account rising from 16% in 2015 to 64% in 2023.
