The price of gold in Pakistan has plummeted by Rs. 27,000 per tola since the law enforcement agencies initiated a crackdown against illicit activities in the domestic gold market.
Although the All-Pakistan Sarafa Gems and Jewellers Association (APSGJA) has not issued gold rates since September 12, according to a report in Express, the current price of gold (24 karats) is Rs. 188,000 per tola while the price of 10 grams is Rs. 160,400.
When rates were last issued, the price of gold (24 carats) stood at Rs. 215,000 while the price of 10 grams was Rs. 184,585. The decline in price of gold, since the crackdown started, comes to Rs. 27,000 per tola. It is pertinent to mention here that the price of gold was hovering around the all-time high of Rs. 240,000 per tola at the start of September.
Quoting APSGJA President Haji Haroon Rasheed, the report said that the association will once again issue rates starting Monday (October 9).
In the international market, spot gold dropped by 0.2 percent to $1,818.39 per ounce by 1451 GMT while the US gold futures registered a decline of 0.2 percent to $1,830.40 per ounce.
