Gold price decreases by Rs800 per tola in local markets

Lahore: Gold prices decreased by Rs800 per tola after the investors stayed a bit tight amid the tough policies and announcements of the federal government for International Monetary Fund’s (IMF) loan programme.

All -Pakistan Sarafa Gems and Jewellers Association’s (APSGJA) data showed that the price of gold (24 carats) went down by Rs800 per tola and Rs686 per 10 grams to settle at Rs197,600 and Rs169,410, respectively.

The dealers predicted that the prices could go down further as there was an acute downtrend in sales. They were of the view that the dwindling demand for gold imports could

Dealers said an acute downtrend in sales could further pull the prices lower, but the demand for import could bring some change in the market.

The reports suggested that the rupee is being traded around 269-275 against the dollar in the interbank market and the yellow metal could get much costlier as the nation met its gold requirements through imports amid the balance of payment crisis.