KARACHI: After reaching a record high on Thursday, the price of gold fell as the Pakistani rupee strengthened against the US dollar after the International Monetary Fund (IMF) announced it had received a pledge from Saudi Arabia to help the cash-strapped nation.
According to data from the All-Pakistan Sarafa Gems and Jewellers Association (APSGJA), the price of gold per tola in the domestic market dropped by Rs2,500 to finish at Rs214,500, and the price of 10 grammes of 24 carat gold dropped by Rs2,142 to close at Rs183,900.
The price of the precious metal dropped by $4 to close at $2019 per ounce on the world market.
At Rs2,450 per tola and Rs2,100.48 for 10 grams, respectively, silver prices in the domestic market remained constant.
