Pakistan’s gold price dropped 4.5%, falling below Rs150,000 per tola, on the same day that the rupee had its best day in six weeks after saying that Ishaq Dar would return as finance minister.
The precious metal price fell by Rs6,800 per tola and Rs5,829 per 10 grams, according to data from the All Pakistan Sarafa Gems and Jewellers Association (APSGJA).
It now costs Rs143,300 per tola and Rs122,857 per 10 grammes.
Gold’s price needed to go down for a long time before it did. In the last four days, the price of a tola of gold has decreased by Rs11,800. The shine of gold was dulled by the news that the exchange rate between rupees and dollars was stable after Dar came home. How gold moves soon would depend on the future rupee’s value.
