Wednesday, September 28, 2022

Gold price falls by Rs4300 per tola in Pakistan

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KARACHI: In line with the international market, the per tola gold price plunged by Rs4300 in the domestic market on Monday, ARY News reported.

According to the All Pakistan Jewellers Manufacturers Association, per tola price of the precious yellow metal decreased by Rs4300 to Rs134,200 while the price of 10 grams was reduced by Rs3686 to Rs115,055.

Cumulatively, the precious commodity has lost Rs9,300 per tola since August 10.

The gold hit an all-time high of Rs162,500 per tola on July 28.

In the international market, spot gold slid to $1,773.85 per ounce by 1143 GMT, having hit its lowest since Aug. 8. U.S. gold futures dropped 1.5% to $1,789.00.

The U.S. dollar rose 0.6% after a new batch of disappointing Chinese data increased global recession worries.

Elsewhere, spot silver fell 2.7% to $20.24 per ounce, platinum dropped over 3% to $932.96, and palladium slipped 2.1% to $2,174.76.

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