KARACHI, Sep 27(ABC): Battered by a drop in the dollar rate, gold decreased Rs1,450 per tola (11.66 grams) to Rs141,850 in Pakistan as the precious metal also lost around $3 in value in the international market on Tuesday.
Gold plunged in line with the dollar’s value in Pakistan.
Data released by the All Pakistan Sarafa Gems and Jewellers Association (APSGJA) showed that the price of the precious metal plunged by Rs1,450 per tola and Rs1,243 per 10 grams to settle at Rs141,850 per tola and Rs121,614 per 10 grams, respectively.
Pakistan meets almost all its gold demand through imports, and traders follow its international price in setting rates in the country.
Jewellers import the metal against the US dollar and UAE dirham before converting its price into rupees.
