KARACHI: On Saturday, the price of gold in Pakistan fell for the fourth straight day and dropped by Rs500, crossing the Rs140,000 per tola level.
The price of the yellow gold declined by Rs429 to close at Rs118,741 per 10 grammes from Rs138,500 per tola.On Friday, gold was priced at Rs. 139,000 per tola and Rs. 119,170 per 10 kilos.
The traders had previously planned for a market downturn once the price of the valuable commodity reached fresh highsGold hit an all-time high price of Rs162,500 a tola on July 28
Globally speaking, Pakistan has a modest market for gold. As it does not manufacture the item locally, it imports it to satisfy demand.
Globally speaking, Pakistan has a modest market for gold. As it does not manufacture the item locally, it imports it to satisfy demand.
The price of gold is Rs 4,000 per tola less than it is in Dubai.
Bullion prices on the international market rose by $12 per ounce to close at $1,802.
The price of silver on the domestic market today stayed the same at Rs. 1,560 for a tola & Rs. 1,337.44 for 10 grammes.
