- Web Desk
- 7 Hours ago
Persistent decrease: Gold prices remain on a downtrend in Pakistan
- Web Desk
- Oct 13, 2023
WEB DESK: The price of gold in Pakistan declined on Friday, dropping by another Rs100 per tola.
The latest data revealed that the price of 24-carat gold decreased by Rs100, settling at Rs197,100 per tola. Similarly, the price of 10-gramme gold saw a reduction of Rs89, reaching Rs168,981.
In the international market, the gold price experienced a slight increase of $7, settling at $1,892 per ounce.
Notably, the daily issuance of gold rates was temporarily halted due to a crackdown by law enforcement agencies on the gold mafia, speculators, and smugglers.
However, the All Pakistan Gem and Jewellers Association resumed the release of gold rates a day earlier after a month-long suspension.
Read more: Rupee’s longest winning streak: Closes below Rs278 against US dollar
In their latest announcement, the association quoted the rate of one tola at Rs215,000 and Rs184,585 for 10 grammes on September 12, reflecting an increase of Rs5,600 and Rs5,058, respectively, from September 11.
Since then, the price of 24-carat gold has dropped by Rs15,500 per tola and Rs13,546 per 10 grammes.