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Gold price in Pakistan declines despite rupee depreciation
All-Pakistan Sarafa Gems and Jewellers Association (APSGJA) says the price of 24-carat gold decreased by Rs1,000 per tola and Rs857 per 10 grams.
Karachi: The price of gold in Pakistan experienced a second consecutive decline on Monday, despite a depreciation of the rupee against the dollar in both the interbank and open market.
According to the All-Pakistan Sarafa Gems and Jewellers Association (APSGJA), the price of 24-carat gold decreased by Rs1,000 per tola and Rs857 per 10 grams. This resulted in a settlement price of Rs230,400 per tola and Rs197,531 per 10 grams.
Simultaneously, the international market witnessed a decline of $8 in the price of gold, with it settling at $1,940 per ounce.
Gold prices in domestic markets fluctuated throughout the previous week, experiencing a decrease of Rs1,600 on Saturday, June 3. Overall, the price of gold has decreased by Rs2,600 over the last two sessions.
The recent volatility in Pakistan's gold rate can be attributed to ongoing political and economic uncertainty, high inflation, and currency depreciation. During such times, individuals often consider purchasing gold as a safe investment and hedge against economic instability.
Data provided by the association indicated that the price of silver remained unchanged at Rs2,750 per tola and Rs2,357.68 per 10 grams.
At the beginning of the week, the local currency depreciated by Rs0.51 or 0.18% against the US dollar, closing at Rs286.19.
Maryam Nawaz lashes out at PTI chief in Bagh speech
The PML-N senior vice-president without naming Imran Khan says that the person who used to say that he himself was enough is now crying all alone.
Bagh: Pakistan Muslim League-Nawaz (PML-N) Senior Vice-President Maryam Nawaz came down hard upon the Pakistan Tehreek-e-Insaf (PTI) chief, saying that “the party returned from where it started,”.
Maryam Nawaz without naming Imran Khan said that the person who used to say that he himself was enough was crying now all alone.
She alleged that Imran Khan sold out Kashmir during his visit to the US.
شہیدوں کی وادی میں دُختر کشمیر کیلیے کشمیریوں کی محبتیں#کشمیر_میں_امید_سحر pic.twitter.com/8NSdn02jxw— PMLN (@pmln_org) June 5, 2023
(Details to Come)
PM’s aide criticizes judges for verdicts in cases against Yasmin Rashid, Pervaiz Elahi
Attaullah Tarar says there are certain segments in the lower judiciary which are giving relief to the PTI leaders.
Islamabad: Attaullah Tarar, the special assistant to prime minister, lashed out at the judiciary for the judgment in which Pakistan Tehreek-e-Insaf (PTI) Central Punjab President Yasmin Rashid was declared innocent in Jinnah house attack case.
“The way the court discharged Dr. Yasmin Rashid is against the law,” claimed Attaullah Tarar while talking to the media on Monday.
He questioned that why so much horridness was shown in the case of Dr. Yasmin Rashid as the court did not wait for the forensic report.
The forensic lab report, he said, showed that Yasmin Rashid was present there near Jinnah House.
“There are certain segments of the lower judiciary which do not take May 9 cases so serious. Why such relief?,” said Tarar, criticizing the courts. He stated that there had been strong evidences of corruption against Chaudhary Pervaiz Elahi.
Tarar also criticized Judicial Magistrate Ghulam Murtaza Virk for decisions in the cases against Chaudhary Pervaiz Elahi, accusing him of using the social media accounts. He claimed that the strong evidences were there against the PTI leaders.
He also criticized the judges of the Lahore High Court and the Supreme Court, saying that there were some judges in these courts who were giving relief to the PTI leaders and supporters.
Tarar vowed to continue to pursue the cases of May 9, claiming that these cases were not made by Shehzad Akbar rather were based on the strong evidences and proofs.
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