Gold price drops by Rs1,700 per tola in Pakistan

KARACHI – Gold prices witnessed downward trend on opening day of the business week as Pakistani rupee lost ground against the US dollar in the interbank market.

The price of per tola gold decreased by Rs1,700 to close at Rs234,500 while the price of 10 grams of 24 carats gold dropped by Rs1,457 to settle at Rs201,046, according to the All-Pakistan Sarafa Gems and Jewellers Association’s (APSGJA) data.

In the international market, the price of the precious commodity decreased by $1 to settle at $1,945 per ounce.

Meanwhile, the price of silver remained unchanged as Rs2,900 and Rs2,486.28, respectively.