Gold prices decline in Pakistan as rupee continues to recover
- By Anjum Wahab -
- Oct 13, 2023
KARACHI: The gold price in Pakistan witnessed a decrease on Friday, sliding another Rs100 per tola, ARY News reported quoting APGJA.
According to the data released by the All-Pakistan Gems and Jewellers Association (APGJA), the price of gold (24 carats) decreased by Rs100 to settle at Rs197,100 per tola.
The price of 10-gram gold decreased by Rs89 to settle at Rs168,981.
In the international market, the price witnessed a hike of $7 to settle at $1,892 per ounce.
It is pertinent to mention here that the issuance of daily gold rates was suspended due to a crackdown by law enforcement agencies on gold mafia, speculators and smugglers.
The All Pakistan Gem and Jewellers Association (APGJA) released the gold rates a day earlier after around a month’s suspension.
The association last released the rate of one tola at Rs215,000 and Rs184,585 for 10 grams on September 12, showing a jump of Rs5,600 and Rs5,058, respectively, from Sept 11.
Till then, the price of gold (24 carats) decreased by Rs15,500 per tola and Rs13,546 per 10 grams.