Islamabad: The gold price in Pakistan slumped further on Saturday after recording a marginal increase of Rs150 per tola the day before.
According to the All Sindh Sarafa Jewellers Association, the price of gold on Saturday declined by Rs1,250 per tola and Rs1,072 per 10 grams to settle at Rs143,800 and Rs123,285, respectively.
Cumulatively, the precious metal lost Rs2,700, or 1.84%, per tola during the week that ended October 8.
The strengthening of the Pakistani rupee has also contributed to the declining trend of gold prices in recent sessions. The Pakistani rupee gained Rs2.02 on Friday against the US dollar, increasing its winning streak to eleven sessions.
In a similar fashion, the price of gold plunged by $14 in the international market as well to settle at $1,695.
Meanwhile, silver prices in Pakistan remained unchanged at Rs1,580 per tola and Rs1,354.60 per 10 grams.