Based on All Sindh Saraf and Jewelers Association President, Haroon Rasheed Chand, the decrease in price is a ripple aftereffect of globally subdued prices and a heavy selling by China in the Hong Kong market. The prices are expected to stay around PKR 44000 per tola for the rest of 2015. The fall is almost 25% less than the past 5-year trend.
Look at gold price trend in Pakistan for the past 5 years.
Gold merchants believe it is the best time to purchase the precious metal as the inflation is definitely under control, and the price is at the lowest level in recent years. On Monday, gold tumbled to $1,072.35 in Asian deals, hitting the lowest stage since February 11, 2010, and breaching the important thing psychological last benchmark of $1,100.
This ultimate fall in the prices could very well mean an increase of gold retail purchasers in Karachi as the valuable gold in considered to be a secure investment.
