Islamabad: Amid the economic uncertainty, the price of gold in Pakistan dropped marginally on Monday, recording a fall in six of the last eight sessions.
According to the All-Pakistan Sarafa Gems and Jewellers Association (APSGJA), the price of gold decreased by Rs800 per tola and Rs686 per 10 grams to settle at Rs197,600 and Rs169,410, respectively.
Before going up by Rs3,300 and Rs400 on Friday and Saturday, the precious metal had dropped by nearly Rs14,000 on a per-tola basis.
The price of the precious metal spiked on Friday last week after the International Monetary Fund (IMF) mission led by Nathan Porter left Islamabad for Washington after the 10-day talks. Although Pakistan and the Fund did not sign the staff-level agreement (SLA), Finance Minster Ishaq Dar said in a press conference on Friday that the talks had ended “positively“.
He had said that the IMF had asked Islamabad to implement further taxes to the tune of Rs170 billion.
The IMF had also said in a statement that the virtual talks would continue from Monday onwards for the revival of the ninth program, under which the cash-strapped South Asian country would receive $1.18 billion.
Similarly, the price of one tola silver decreased by Rs30 to Rs.2,130, whereas that of ten-gram silver declined by Rs.25.72 to 1,826.13.
