Gold price in Pakistan falls by Rs2,000 per tola
Gold price in Pakistan fell by Rs2,000 per tola on Tuesday!
The price of the safe-haven bullion for the past few days has shown a decreasing trend in the country as the rate of gold in the international market fluctuates amid uncertainty around the United States debt ceiling.
According to the All Pakistan Sarafa Gems and Jewellers Association (APSGJA), the rate of gold (24 carats) decreased by Rs2,000 per tola and Rs1,714 per 10 grams to settle at Rs233,100 and Rs199,846, respectively,
Meanwhile, the price of silver also decreased by Rs50 per tola and Rs42.86 per 10 grams to settle at Rs2,950 and Rs2,529.14, respectively.
While in the international market, the gold rate went down $9 to reach $2,006 per ounce. Consequently, resulting in a decrease in the domestic rate as well.
The gold price in the country hit an all-time high of Rs240,000 per tola on May 10 following increased political uncertainty after Pakistan Tehreek-e-Insaf (PTI) Chairman Imran Khan’s arrest. It dropped later in line with the decline in the international rate.
Accordign to the jewelers’ body, the local gold was overcast by Rs3,500 per tola in Pakistan compared to the Dubai bullion market.