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Tuesday, November 5, 2024

Home Business Gold prices drop in Pakistan despite hike in international market

Gold prices drop in Pakistan despite hike in international market

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KARACHI – The price of gold in Pakistan on Saturday experienced a drop, despite the upward trend in the international market.

Data shared by All-Pakistan Sarafa Gems and Jewellers Association (APSGJA) show that rate of gold (24 carats) was reduced by Rs200 per tola and Rs172 per 10 grams.

Amid unexpected changes, the new price of the yellow metal has been set at Rs208,200 per tola while the price of 10g stands at Rs178,495.

In the international market, the price of the expensive metal increased and settled at $1,925 per ounce.

Earlier this week, local currency witnessed a strong rebound while gold lost shine in the aftermath of the International Monetary Fund (IMF)’s new loan programme.