KARACHI – Gold prices saw no change in domestic market of Pakistan on Monday despite rising prices globally.
Data shared by All Pakistan Gems and Jewellers Association showed per tola gold price remained stable at Rs256,500.
Similarly, the price of 10-gram gold stood at Rs219,907 without any change.
In international market, the price of the yellow commodity dropped by $9 to reach $2,439 per ounce.
Meanwhile, silver prices remained unchanged in Pakistan as per tola price stood at Rs2,950 and 10-gram was traded at Rs2,443.41.
Reports said gold prices are likely to increase in Pakistan in coming days as import of the precious commodity is suspended for past five months.
Pakistan was importing an average of 40 to 50 kilograms of gold per month before the suspension, but no gold has been imported from any country between March and July 2024.
Government documents reveal that Pakistan imported 262 kilograms of gold worth $20 million in fiscal year 2023-24.
In fiscal year 2022-23, the South Asian country imported 567 kilograms of gold worth $30.6 million, 44.43% higher than the imports made in FY 2023-24.
Reports said importers have been barred for importing gold for five months due to undisclosed reasons. However, the halt in gold imports could drive up the gold prices in the country.
Currency Rates Today in Pakistan – Rupee to US Dollar, Euro, Pound, Dirham, Riyal – 9 August 2024
