LAHORE – The downward trend in gold prices across Pakistan continued on Saturday, offering some relief to potential buyers and investors.
The price of gold per tola dropped by Rs 900, bringing the new rate to Rs356,200 per tola. Similarly, the price for 10 grams of gold fell by Rs771, now standing at Rs305,384.
This decrease aligns with global market movements, where the price of gold declined by $9 per ounce. The current international rate is now $3,335 per ounce.
The ongoing decline in gold prices is being attributed to fluctuations in the global bullion market and a stronger rupee in the domestic market. Experts suggest that prices may continue to shift based on international trends and economic conditions.
Earlier, the Ministry of Finance announced the new prices of petroleum products on Friday for the next fortnight.
According to a notification issued by the Federal Ministry of Finance, the price of petrol has been kept unchanged, while the price of diesel has been reduced by Rs 12.84 per litre.
The revised prices — based on recommendations from OGRA and relevant ministries — will be effective from August 16.
High-speed diesel will drop from Rs285.83 to Rs272.99 per litre, and superior kerosene oil will be reduced from Rs185.46 to Rs178.27 per litre. Petrol will remain at Rs264.61 per litre.
Petrol is widely used in private transport, small vehicles, rickshaws, and two-wheelers, with higher prices hitting middle and lower-middle-income households the hardest. The transport sector, however, relies heavily on high-speed diesel.
