Islamabad: For the second consecutive session, the price of gold per tola fell by Rs400 in Pakistan on Friday.
The All Sindh Sarafa Jewellers Association said that the price of per tola gold decreased by Rs400 to settle at Rs158,000 on Friday. Similarly, the price on a ten-gram basis also increased by Rs342 to settle at Rs135,468.
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 rose by just above the Rs5500 level in the last seven 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.
