Gold price reduces by Rs7800 per tola in Pakistan

Karachi: Gold prices in Pakistan recorded a major decline on Thursday when one tola of gold closed at Rs197,200 after falling by Rs7,800.

The price of gold in the country recorded a decrease at a time when the price of gold in the global market has increased and the price of an ounce of gold in the global market is at a high level of $1885.

According to people associated with the gold trade in Pakistan, the price of gold had increased significantly after which the bullion market was closed in the month of September and the first week of October when the government took action following reports of a freeze in the gold business.

According to the analysts, after the opening of the market, the price of gold was linked to the interbank dollar, after which the price of gold also recorded a decrease due to the fall in the price of dollar in the interbank.