*KARACHI: The gold prices in Pakistan reduced significantly as prices forone tola and 10 gram declined by Rs1,850 and Rs1,586 respectively. The goldis losing its value sue to continuous diminishing of US dollar againstPakistani rupee in the interbank market.*
It is observed that local one tola and 10 grams gold price further camedown by Rs1,850 and Rs1,586 on Monday attaining worth of Rs54,500 andRs46,725 respectively. However, there is no modification in gold prices inworld gold rate, and is stable at $1,224 per ounce.
Only local gold prices are showing declining phase since July 21, due toappreciation in the value of Pakistani rupee against the US dollar in theopen and interbank markets.
From July 21 till today, the cost of one tola and 10 grams gold has fall byRs5,550 and Rs4,758 respectively. The price of one tola and 10-gram on July21 was around Rs60,050 and Rs51,483 while the world gold price was $1,233per ounce.