KARACHI – The price of gold in Pakistan receded on Thursday as it declined by Rs9,900 per tola.
The price of yellow metal plunged drastically as it comes under pressure. All-Pakistan Sarafa Gems and Jewellers Association shared fresh data, which shows that the price of gold (24 carats) dropped by Rs9,900 per tola.
Following the drop, a single tola of 24-Karats gold was being traded for Rs2,37,300 per tola, and the rate of 10 grams of 24-Karats gold was traded at Rs2,03,447.
Meanwhile, the price of 10 grams of 22-Karats gold was being traded for Rs1,86,493.
On Wednesday, the local currency plunged to a record low against the greenback in the interbank market, and closed at 298.93 against the USD in the inter-bank market on Thursday. At close, the rupee finished a decline of Rs8.71 or 2.91%.