Gold drops up to Rs 8600 per tola this month, as it has been reported in first week of August.
Gold rates observed a drop taking the trading price below Rs150,000 per tola in Pakistan due to an increase in local currency against the US dollar and a decline in crude oil prices.
Gold slides beneath key technical levels around Rs145,000 per tola accelerated the decline as investors liquidated some long positions.
The price of gold — considered a safe refuge — plummeted by Rs8,600 per tola and Rs7,373 per 10 grams to settle at Rs145,300 and Rs124,571 in the local market, data released by the All Sindh Sarafa and Jewellers Association (ASSJA).
Pakistan economy has been under great pressure in first six months of 2022 as a massive decline in Dollar’s rate was observed and the major increase in inflation has been witnessed in Pakistan.
Gold drops up to Rs 8600 per tola this month in the start of month of August. Gold drops down to Rs 8600 per tola this month.
This is part of a slight improvement in the state of economy and inflation rates in Pakistan.
