Islamabad: Amid the strengthening of the Pakistani rupee, the per tola gold price in Pakistan received a heavy blow on Thursday as it fell below the Rs145,000 level.
According to the All Sindh Sarafa Jewellers Association, the price of gold on Thursday dropped by Rs3,400 per tola and Rs2,915 per 10 grams to settle at Rs144,900 per tola and Rs124,228 per 10 grams, respectively.
Unaware of the possible decision by the State Bank’s Monetary Policy Committee, investors are nervous.
The strengthening of the Pakistani rupee has also contributed to the declining trend of gold prices.
Meanwhile, in the international market, the price of the precious metal rose by $3 to firm above the key $1,700 per ounce level. The price settled at $1,712.
However, silver prices in Pakistan remained unchanged at Rs1,620 per tola and Rs1,388.88 per 10 grams.