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Gold prices plunge Rs 1500 to Rs 115,500 per tola

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ISLAMABAD (ANN News) – The price of 24 karat gold increased by Rs 1500 on Wednesday and was traded at Rs 115,500 against its price at Rs 114,000.

Likewise, the price of 10 gram gold also decreased by Rs 1,286 and was traded at Rs 96,451 against its sale at Rs 97,737 Karachi Sarafa Association reported.

The price of per tola silver decreased by Rs 70 and was traded at Rs 1,150 against its sale at Rs 1,220.

Similarly, the price of 10 gram silver also decreased by Rs 60.01 and was traded at Rs 984.95 against its price at Rs 1,045.95.

The gold prices in the international market decreased by $35 and was traded at $1,857 against $1,892, the association reported.


No gold imports in last two months


On the other hand, according to latest data of Pakistan Bureau of Statistics (PBS), Pakistan did not import gold during the first two months of the current fiscal year (2020-21).

Last year, during July-August, Pakistan had imported 86 kilograms of gold worth $3.294 million, hence showing 100 percent decrease in imports during the current year.

Overall, the metal group imports during the first two months of the current year declined by 1.98 percent by falling from imports of 685.642 million last year to $672.043 million during the current financial year.

It is pertinent to mention here that the country s trade deficit witnessed reduction of 8.32 percent during the first two months of current fiscal year as compared to the deficit of the corresponding period of last year.

The deficit during July-August (2020-21) was recorded at $3.382 billion as compared to the deficit of $3.689 billion, showing decline of 8.32 percent.

During the period under review, the country s exports registered negative growth of 4.27 percent, by going down from $3.744 billion last year to $3.584 billion during the current year.

On the other hand, the imports decreased by 6.28 percent, from $7.433 billion last year to $6.966 billion during the current year.

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