Gold loses shine in Pakistan as prices fall by Rs2,000 per tola
- By Web Desk -
- Feb 08, 2023
KARACHI: Gold continued to lose shine in Pakistan as the precious commodity surrendered gains to trade below Rs200,000 per tola amid economic uncertainty, ARY News reported on Wednesday.
According to All Sindh Sarafa Jewellers Association, the per tola price of 24 karat gold decreased by Rs2,000 and was traded at Rs198,000 against sale at Rs200,000 the last trading day.
The price of 10 grams of 24 karat gold also decreased by Rs1,715 to Rs169,753, whereas that of 10 grams of 22 karat declined to Rs155,607 from Rs157,179. This is the fourth straight decline in the commodity’s price.
The price of gold in the international market increased by US$11 to US$ 1880 as compared to its sale at US$1,969 on the last trading day, the association reported
Meanwhile, the price of one tola silver decreased by Rs.60 to Rs.2170 whereas that of ten gram silver declined by Rs51.44 to Rs.1,860.42.
Read More: Gold prices in Pakistan fall by Rs4,300 per tola
Earlier, the foreign exchange reserves held by the State Bank of Pakistan (SBP) declined $592 million to $3.09 billion in a week.
The total liquid foreign reserves of Pakistan stood at $8.74 billion, whereas, the net foreign reserves held by commercial banks stood at $5.65 billion. The drop of $592 million was witnessed due to external debt repayments, according to the central bank.