KARACHI: As a result of the nation’s economic unrest, Gold Prices in Pakistan fell for a third day in a row on Tuesday.
The price of 24-carat gold per tola declined by Rs. 4,300 and was exchanged at Rs200,000 compared to a sale of Rs204,300 on the last trading day, according to the All-Pakistan Sarafa Gems and Jewellers Association (APSGJA).
In the meantime, the cost of 10 grammes of 24-karat gold fell by Rs. 3,686 to Rs. 171,468 from Rs. 175,154, while the cost of 10 grammes of 22-carat gold fell to Rs. 157,179 from Rs. 160,558.
This is the commodity’s third straight reduction in price; on Monday and Friday, it dropped by Rs200 per tola and Rs4,000 per tola, respectively.
The price of ten grammes of silver was reduced by Rs. 17.14 to 1,911.86 while the price of one tola of silver decreased by Rs. 20 to Rs. 2,230.
According to the association, the price of gold dropped by US$1 to US$1,869 on the global market from its sale price of US$1,870 on the previous trading day.
The State Bank of Pakistan’s (SBP) foreign exchange reserves had previously dropped by $592 million to $3.09 billion in a single week.
Pakistan’s overall liquid foreign reserves were $8.74 billion, while commercial banks held $5.65 billion in net foreign reserves. The decline of $592 million was brought on by the repayment of external debt, according to the central bank.