Friday, December 1, 2023

Massive Unexpected Drop in Gold Value in Pakistan, Today’s Price Here

The price of gold has seen a significant drop in Pakistan, with a sudden decrease of a thousand rupees per tola (approximately 11.7 grams) recorded within 24 hours. During this time, 24-carat gold is being sold in the market for 211,000 rupees per tola, whereas 22-carat gold is now priced at 193,417 rupees per tola.

On the other hand, the US dollar has reached its lowest level in six weeks against the Pakistani rupee, with the interbank rate being 290.86 rupees after a decrease of 90 paisas. This is believed to be a result of the government’s crackdown on currency dealers. In the open market, the dollar has become cheaper by 50 paisas, now trading at 293 rupees.

It’s important to note that the effects of the government’s crackdown on the currency market are becoming evident, as the value of the rupee has remained stable against the dollar at the beginning of the week in the interbank market.

Additionally, Pakistan Stock Exchange had a mixed day, with the 100-index closing 284 points lower at 46,393 points. The highest point reached by the 100-index during the day was 46,590 points. Trading saw transactions for 195.6 million shares, amounting to a market capitalization of 6.891 trillion rupees.

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