Islamabad: After going up in three consecutive sessions, the price of gold in Pakistan plunged on Wednesday by Rs1,400 per tola.
Data released by the All-Pakistan Sarafa Gems and Jewellers Association (APSGJA) showed that the price of gold plunged by Rs1,400 per tola and Rs1,200 per 10 grams to settle at Rs195,600 and Rs167,695, respectively.
Meanwhile, silver prices in the domestic market remained unchanged at Rs2,150 per tola and Rs1,843.27 per 10 grams, respectively.
The plunge in the price of gold came amid hopes of the revival of the International Monetary Fund (IMF) programme that could influence the economic scenario.
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In the international market, gold price rose by $8 per ounce to settle at $1,840 as investors held off on big bets ahead of minutes from the US Federal Reserve’s latest policy meeting that could offer more cues on its rate-hike path.
