The price of 24-karat gold per tola dropped by Rs.1,800, reaching Rs.218,200 on Thursday, down from its previous rate of Rs.220,000 during the last trading day. Likewise, the cost of 10 grams of 24-karat gold decreased to Rs.187,071 from Rs.188,614, marking a decline of Rs.1,543.
The rate for 10 grams of 22-karat gold also fell to Rs.171,482 from Rs.172,897, according to the All Sindh Sarafa Jewellers Association.
Silver prices experienced a decline as well, with the per tola price falling by Rs.20 to Rs.2,660, and the rate for ten grams dropping by Rs.17.14 to Rs.2,280.52.
Internationally, the price of gold reduced by $.15, being sold at $2,067 as opposed to the previous $2,082, as reported by the Association.
Simultaneously, the Pakistani rupee exhibited a slight gain against the US dollar in the inter-bank market, appreciating by 0.02% to settle at 281.67 after an increase of Re0.05. The previous day had seen the rupee closing at 281.72 against the US dollar, according to the State Bank of Pakistan (SBP).
On a different note, the Federal Board of Revenue (FBR) has devised a plan to levy taxes on retailers across the country. In its initial phase, this tax imposition will target retailers in four provincial capitals, aiming to generate approximately Rs100 billion in revenue.
