Gold price goes down in Pakistan by Rs4300 per tola

Karachi: The Gold prices continued to fall for the third consecutive day amid economic uncertainty in the country on Tuesday.

Pakistan Sarafa Gems and Jewellers Association (APSGJA) confirmed the development.

They said that the price of per tola price of 24 karat gold went down by Rs.4,300 and was traded at Rs200,000 against sale at Rs204,300 the last trading day.

The price of 10 grams of 24 karat gold also decreased by Rs.3,686 to settle at Rs.171,468, whereas 10 grams of 22 karat declined to Rs.157,179 from Rs.160,558.

On Monday, the yellow metal witnessed Rs200 decrease per tola, and earlier on Friday, it went down by Rs4,000.

The price of gold in the international market went down by US$1 to US$ 1,869 as compared to its sale at US$1,870 on the last trading day, said the reports.

The foreign exchange reserves held earlier by the State Bank of Pakistan (SBP) declined $592 million to $3.09 billion in a week.

The total liquid foreign reserves of Pakistan stood at $8.74 billion, whereas, the net foreign reserves held by commercial banks stood at $5.65 billion.

The central bank said that the drop of $592 million was witnessed due to external debt repayments.