Islamabad: The price of gold in Pakistan ended the last week at a second-week low rate, as the price dropped by Rs1,000 per tola.
Data released by the All-Pakistan Sarafa Gems and Jewellers Association (APSGJA) showed that the price of gold (24 carats) declined by Rs1,000 per tola and Rs858 per 10 grams to settle at Rs194,100 and Rs166,409, respectively.
Similarly, silver prices in the domestic market fell by Rs20 per tola and Rs17.15 per 10 grams to settle at Rs2,080 per tola and Rs1,783.26 per 10 grams, respectively.
In the last two weeks, the price of the precious metal remained well below the Rs200,000 per tola mark, as the strengthening Pakistani rupee received investors’ attention.
Towards the end of last week, Pakistan also received a $700 million loan from Chinese banks which will ease the burden on the country’s forex reserves.
Experts believe that the deal with the International Monetary Fund (IMF) will also be soon completed, as Pakistan has complied with the majority of the demands put forth by the global lender.
Pakistan receives $700 million from China in sigh of relief amid economic meltdown
