Islamabad: After five consecutive sessions of inching towards the all-time high, the price of gold per tola fell by Rs450 in Pakistan on Thursday.
Data released by the All Sindh Sarafa Jewellers Association said that the price of per tola gold decreased by Rs450 to settle at Rs158,400 on Thursday. Similarly, the price on a per ten-gram basis also increased by Rs386 to settle at Rs135,820.
Despite gold trading in a tight range, physical demand for the precious metal is high amid the ongoing wedding season. This is evident from the fact that the price of the precious commodity on per tola basis increased by nearly Rs5500 in the last six sessions.
Pakistan fulfils its gold demand by importing the precious commodity. Therefore, the rise and fall in the price depend upon many factors, including prices in the international market, the PKR to the USD exchange rate, and the demand and supply in domestic markets.
Meanwhile, the price of per tola and ten-gram silver remained constant at Rs1690 and Rs 1,448.90, respectively.
