Gold price declines by Rs2,150

KARACHI: The price of 24 karat gold dipped by Rs2,150 per tola and was traded at Rs91,600 against Rs93,750, the Karachi Sarafa Association (KSA) reported on Saturday.

Likewise, the price of 10 gram gold witnessed decrease of Rs1,844 and was traded at Rs78,532 as compared to Rs80,376 during the last trading day.

The price of per tola silver decreased by Rs20 and was traded Rs1,000 as compared to its sale at Rs1,020. Likewise, the price of 10 gram silver decreased by Rs17.17 and was traded at Rs857.33 as compared to Rs80,376 the previous day.

In international market, the price of per ounce gold depreciated by $42 and was traded at $1,585 against $1,627, the KSA reported.

As per figures of the Pakistan Bureau of Statistics (PBS), import of gold during 7MFY20 declined to 240kg ($10 million) from 248kg ($9.7m) in same period last year.

The country’s jewellery exports also fell by 17pc to $2.8m during the period under review from $3.4m.