KARACHI – Gold extended losses in domestic market of Pakistan on Saturday in line with downward trend in international market.
Data shared by All Pakistan Gems and Jewellers Association showed per tola gold price dropped by Rs9,100 to settle at Rs430,662.
Similarly, the price of 10-gram gold plunged by Rs7,799 to reach Rs369,223 in local market.
In international market, the price of the yellow commodity decreased by $91 to reach $4,038 per ounce.
Meanwhile, the price of per tola silver fell by Rs209 to Rs5,313 in Pakistan.
A day earlier, per tola gold price declined by Rs3,300 to close at Rs439,762. Similarly, the price of 10-gram gold fell by Rs2,829, settling at Rs377,025 in local market.
Meanwhile, a growing diesel shortage is wreaking havoc across Pakistan as Petrol Pump Dealers Association sounded the alarm, writing to OGRA about a severe scarcity of high-speed diesel at petrol stations.
According to association, petrol pumps have been grappling with shortage for over week, with supplies falling far short of allocated quotas. Dealers warn that this limited supply is disrupting daily operations and making it nearly impossible to meet sales targets.
The association further claimed that vehicles are being forced to stand in long queues for hours, sparking fears that the crisis is not accidental but a result of attempts to manufacture an artificial shortage of petroleum products.
The dealers are demanding urgent intervention from authorities to ensure proper distribution, warning that continued delays could create a full-blown fuel crisis, hitting both motorists and the transport industry hard.
