Gold price in Pakistan registers major drop
- By Anjum Wahab -
- Jul 11, 2023
KARACHI: Gold price registered a major drop in Pakistan on Tuesday despite an increase in the rates in international market, ARY News reported.
According to All-Pakistan Sarafa Gems and Jewellers Association (APSGJA), the price of gold (24 carats) dropped by Rs4,500 per tola and Rs3,858 per 10 grams to settle at Rs204,500 and Rs175,326, respectively.
Meanwhile, the price of the yellow metal witnessed a nominal increase by gaining $7 to settle at $1,925 per ounce in the international market.
Read More: Gold near 3-week high on dollar dip
The price of silver in the domestic market remained the same for the second session this week at Rs2,480 per tola and Rs2,26.20 per 10 grams.
The gold rate has been volatile in Pakistan recently amid continued political and economic uncertainty, and high inflation. A day earlier, the price of the bullion increased by Rs800 per tola and Rs686 per 10 grams.
Moreover, Pakistani Rupee gained minimally by 0.44 percent against the US dollar in the interbank market today, according to the data shared by the State Bank of Pakistan (SBP). The rupee closed at Rs278.57 against the dollar.