Gold price drops by Rs 800 per tola in Pakistan

Gold Silver Price in Karachi Today

Gold prices in the local bullion market ended at Rs 123,800 per tola and Rs 106,138 per 10 grams. During the outgoing week, the valuable commodity lost around Rs 4,300 per tola or 3.35%. The valuable metal recorded a decrease of $12 per ounce in the international market to settle at around $1,846.

The price of gold in Pakistan fell on Saturday as interests concerning rupee-dollar parity triggered uncertainty in the commodity market.

Gold prices in the local bullion market recorded a decrease of Rs 800 per tola and Rs 686 per 10 grams to settle at Rs 123,800 per tola and Rs 106,138 per 10 grams. On Friday, the yellow metal closed at Rs 124,600 per tola and Rs 106,824 per 10 grams.  During the outgoing week, the precious commodity lost around Rs 4,300 per tola or 3.35%.

Earlier, speaking to tv Channel, AA Commodities Director Adnan Agar had said that the price of gold in the local market is completely dependent on two factors.

“Currency movement and international price changes have a significant impact on the price of the precious commodity in Pakistan,” he had elaborated. Meanwhile, the precious metal recorded a decrease of $12 per ounce in the international market to settle at around $1,846. It is pertinent to mention that gold rates in Pakistan are around Rs 4,000 below cost compared to the gold rate in the Dubai market. Furthermore, the price of silver in the domestic market remained unchanged at Rs 1,440 per tola and Rs 1,234.56 per 10 grams today.

Mehran Khan

Mehran Khan is a Software Engineer, a leading Digital Marketing expert in Pakistan. With over 4+ years of experience in digital marketing & SEO.

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