KARACHI: Despite the rupee’s collapse, which touched an all-time low of Rs178.98 versus the US dollar on Monday, gold rates in Pakistan fell by Rs200 per tola.
Gold prices in the local bullion market fell by Rs200 per tola to Rs130,550, according to the All Sindh Sarafa Jewellers Association (ASSJA), while the price of 10 kilos gold fell by Rs172 to Rs111,925.
The precious metal had finished the previous day at Rs130,750 per tola and Rs112,097 per gram.
During the week ending March 12, the yellow metal had earned Rs1,350 per tola in the local market.
Analysts were taken aback by the drop in gold rates since previous patterns indicate that individuals tended to hold aggressive positions in gold during inflationary times.
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