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Gold price continues to decline in Pakistan, falls by Rs1,500
- Gold price settles at Rs139,000 per tola.
- Price of gold closes at Rs119,170 per 10 grams.
- Silver prices remain unchanged.
KARACHI: Gold extended losses on Wednesday as the price registered a decline of Rs1,500 per tola and Rs1,286 per 10 grams.
Data released by All Sindh Sarafa Jewellers Association (ASSJA) showed that the price of gold settled at Rs139,000 per tola and Rs119,170 per 10 grams.
The price of the yellow metal plunged by Rs8,000 per tola for three consecutive days.
It should be noted that the gold price is standing below cost. Gold is cheaper by Rs4,000 per tola compared to its price in Dubai.
In the international market, bullion prices declined by $18 per ounce to settle at $1,715.
Meanwhile, silver prices in the domestic market remained unchanged at Rs1,520 per tola and Rs1,303.15 per 10 grams today.