Gold loses lustre as its price falls by more than Rs4,000 a tola.
- Gold price falls by Rs4,500 per tola.
- Prices of silver remain unchanged in local market.
- Yellow metal gains $7 in international market.
KARACHI: Insight: Dispute over China’s embassiesDespite an uptick in the international market, gold prices in Pakistan fell sharply on Tuesday.
According to the All-Pakistan Sarafa Gems and Jewellers Association (APSGJA), the price of gold (24 carats) fell by Rs4,500 per tola and Rs3,858 per 10 gramme to Rs204,500 and Rs175,326, respectively.
Meanwhile, the price of gold increased little Monday, rising $7 to $1,925 per ounce on the international market.
In Pakistan, the gold price has been fluctuating recently due to ongoing political and economic uncertainties, as well as significant inflation. In such circumstances, people prefer to purchase this valuable metal as a secure investment and a hedge.
According to data provided by the organisation, the price of silver remained unchanged for the second session this week at Rs2,480 per tola and Rs2,26.20 per 10 grammes.
The price of bullion had risen by Rs800 per tola and Rs686 per 10 gramme the previous day.
Meanwhile, the Pakistani rupee gained 0.44% versus the US dollar in the interbank market today, according to statistics published by the State Bank of Pakistan (SBP).
The rupee finished at Rs278.57 per dollar.
According to data released by All-Pakistan Sarafa Gems and Jewellers Association (APSGJA), the price of gold (24 carats) lost 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 made a nominal increase by gaining $7 to settle at $1,925 per ounce in the international market today.
