Friday Aug 19, 2022
KARACHI: Gold extended losses on Friday as the price registered a meagre decline of Rs200 per tola and Rs171 per 10 grams.
Data released by All Sindh Sarafa Jewellers Association (ASSJA) showed that the price of gold settled at Rs142,400 per tola and Rs122,085 per 10 grams.
The price of the yellow metal plunged by Rs3,000 per tola in the last two days.
It should be noted that the gold price is standing below cost. Gold is cheaper by Rs5,000 per tola compared to its price in Dubai.
In the international market, bullion prices declined by $19 per ounce to settle at $1,752 as investors watched for signs of further policy tightening by the US Federal Reserve
Meanwhile, silver prices in the domestic market remained unchanged at Rs1,540 per tola and Rs1,320.30 per 10 grams today.