Gold price significantly drops in Pakistan

The price of 24 karats per tola gold decreased by Rs.5,000 and was sold at Rs 277,800 on Friday against its sale at Rs 282,800 on previous trading day, All Sindh Sarafa Jewellers Association reported.

The price of 10 grams of 24 karat gold also decreased by Rs.4,286 to Rs.238,169 from Rs 242,455 whereas that of 10 grams 22 karat also went down to Rs.218,321from Rs 222,250.

The price of Per tola silver decreased by Rs.50 to Rs3,400 whereas that of ten ten-gram silver went down by Rs.42.86 to Rs. Rs.2,914.86 respectively.

The price of gold in the international market decreased by $50 to $2,666 from $2,716, the Association reported.

Meanwhile, Pakistani rupee on Friday appreciated by 12 paisa against the US dollar in the interbank trading and closed at Rs 278.11 against the previous day’s closing of Rs 278.23.

However, according to the Forex Association of Pakistan (FAP), the buying and selling rates of the dollar in the open market stood at Rs 277.60 and Rs 279.15 respectively.

The price of Euro decreased by Rs 1.54 to close at Rs 291.06 against the last day’s closing of Rs 292.60, according to the State Bank of Pakistan (SBP).

–The Japanese yen remained came down by 01 paisa and closed at Rs1.81, whereas a decrease of Rs 3.87 was witnessed in the exchange rate of the British Pound, which traded at Rs351.24 as compared to the last day’s closing of Rs355.11.

The exchange rates of the Emirates Dirham and the Saudi Riyal decreased by 04 and 03 paisa to close at Rs75.71 and Rs74.01, respectively.