Gold prices in Pakistan have dropped again to Rs439,836 per tola, making it an ideal time for those looking to buy it.
All Pakistan Gems and Jewellers Association announced that there is now Rs1100 decrease in price.
The price of 10 grams of gold is now Rs377,088.
The prices have also dropped in the international market.
Han Tan, Chief Market Analyst at Bybit, said the slowdown in hiring provided fresh support to gold as investors scaled back expectations of a September rate hike.
Is it the best time to buy it?
But the question remains: Is this a good time to buy it, or will prices continue to fall?
Gold prices usually fall during the summer months as the wedding season slows down. Since most weddings in Pakistan take place during the autumn and winter months, demand for gold remains lower in summer, often leading to a drop in prices.
This year, prices were also affected by the conflict in the Middle East, which caused both oil and gold markets to become volatile. Now that the situation has stabilised, prices have eased, making it a favourable time for buyers.
If you are planning to invest in or purchase gold, July and August could be the best months to do so. As Pakistan’s wedding season approaches later in the year, demand is expected to rise, which wll increase its price.
