Pakistan Bureau of Statistics says no gold was imported from March to July which caused shortage for jewelers
Islamabad: Gold prices in Pakistan are expected to rise further due to a five-month ban on the import of the metal.
The Pakistan Bureau of Statistics (PBS) reported that no gold was imported from March to July which caused a shortage for jewelers.
This import ban has sparked concerns about more price hikes. In the fiscal year 2023-24, Pakistan imported 262 kg of gold worth approximately $17 million, compared to 566 kg worth over $30 million in 2022-23.
Without a clear explanation from the government, jewelers warn that the ongoing ban could result in further price increases and market instability. Recently, the international gold price jumped by $37 to $2,430 per ounce, causing the price in Pakistan to rise by Rs 1,000 per tola, reaching Rs 256,500 per tola.
The World Gold Council also predicted that a potential downturn in the U.S. economy could drive gold prices higher in 2024.
Doctors temporarily recruited during Corona in Sindh fired
- 5 گھنٹے قبل
Cambridge offers candidates free re-sits for leaked exam papers
- 17 منٹ قبل
Iranian hackers threaten to leak emails of Trump's close aides
- 3 گھنٹے قبل
Pakistan's first int’l driving license kiosk set up at Lahore Airport
- 5 گھنٹے قبل
Shadab Khan suffers shoulder injury, likely to rest for 3 months
- 2 گھنٹے قبل
Thai court suspends PM over phone call leak
- 3 گھنٹے قبل
Two terrorists killed in police, CTD joint operation in Bannu
- 3 گھنٹے قبل
New great feature for people using Gmail on Android phones
- ایک گھنٹہ قبل
Strong earthquake tremors in Punjab including Lahore
- 4 گھنٹے قبل
Maternity homes sealed after 20 newborns died in Pakpattan
- ایک گھنٹہ قبل
Motorcyclist dies after being hit by water tanker in Karachi
- 3 گھنٹے قبل
Prisoners lists exchanged between Pakistan, India
- 39 منٹ قبل
