Gold drops Rs1,150 per tola, traded at Rs95,150
Last updated on: 25 February,2020 04:39 pm
The price of 10 gram gold witnessed decrease of Rs986 and was traded at Rs81,576
KARACHI (Dunya News) – The per tola price of 24 karat gold depreciated by Rs1150 on Tuesday and was traded at Rs95,150 as compared to Rs 96,300 on last trading day, Karachi Sarafa Association reported.
Likewise, the price of 10 gram gold witnessed decrease of Rs986 and was traded at Rs81,576 against last closing of Rs82,562.
The price of silver decreased Rs10 and was traded at Rs1050 and that of 10 gram silver was traded at Rs900.20 after a decrese of Rs8.57.
In international market, the price of per ounce gold decreased by $29 and was traded at $1655 against $1684, Karachi Sarafa Association reported.
Gold Imports Increase
Meanwhile, according to the Pakistan Bureau of Statistics (PBS), the gold imports into the country increased by 3.61 percent during the first seven months of the current financial year (2019-20) as compared to the corresponding period of last year.
Pakistan imported gold worth $10.068 million during July-January (2019-20) compared to the imports of $9.717 million during July-January (2018-19), showing growth of 3.61 percent.
In terms of quantity, the country imported 240 kilograms of gold during the period under review compared to imports of 248 kilograms during last year, showing decrease of 3.23 percent.
Meanwhile, on year-on-year basis, the gold imports into the country during January 2020 decreased by 7.13 percent when compared to the imports of the same month of the last year.
The gold imports during the month under review were recorded at $0.899 million against the imports of 0.968 million during January 2019.
On month-on-month basis, the gold imports during January 2020 witnessed decrease of 47.
88 percent when compared to the imports of $1.725 million in December 2019, the data revealed.
It is pertinent to mention here that the Country s trade deficit witnessed significant reduction in last seven months (July-January) of current financial year and shrunk by 28.40 per cent as compared to the corresponding period of last year.
During the period under review, the country s exports registered about 2.14 per cent growth, whereas imports reduced by 15.95 per cent, the PBS data revealed.
During the period from July-January (2019-20), exports reached to $13.498 billion against the exports of $13.216 billion of the same period of last year, it added.
Meanwhile, the country s imports witnessed significant decrease of 15.95 % as these went down from $32.420 billion in first seven months of last financial year to $27.249 billion of same period of current financial year, it said.