A representational image of gold bangles. — Reuters/File

Gold loses traction, price declines by Rs600 per tola

by Pakistan News
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A representational image of gold bangles. — Reuters/File

KARACHI: The gold price in Pakistan receded on Tuesday by Rs600 per tola amid cue of economic stability.

According to the All Sindh Sarafa and Jewellers Association (ASSJA), the price of gold settled at Rs141,000 per tola. Meanwhile, the price declined by Rs515 per 10 grams to settle at Rs120,885.

The yellow metal cumulatively lost Rs4,800 per tola during the week ended June 25.

The precious commodity had scaled record highs in June and remained in the range in the run-up to last week’s federal budget announcement.

Meanwhile, the yellow metal stayed above the key $1,800-per-ounce level in the international market with a decrease of $. The price settled at $1,827.

Gold rates in Pakistan are around Rs3,000 below the cost compared to the rate in the Dubai market.

The prices in the domestic market remained unchanged at Rs1,560 and Rs1,337.44 today.

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