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Since law enforcement officials started a crackdown on illegal operations in the domestic Gold market, the price of gold in Pakistan has fallen by Rs. 27,000 per tola.
The current price of gold (24 karats) is Rs. 188,000 per tola, while the price of 10 grams is Rs. 160,400, according to a report in Express, even though the All-Pakistan Sarafa Gems and Jewellers Association (APSGJA) has not released gold rates since September 12.
Read More: Govt Set to Launch Crackdown Against Smuggling of Gold
The cost of gold (24 carats) was Rs. 215,000 at the time of the previous rate announcement, while the cost of 10 grams was Rs. 184,585. Since the crackdown began, the price of gold has decreased by Rs. 27,000 per tola. It is important to note that at the beginning of September, the price of gold was about at its all-time high of Rs. 240,000 per tola.
The report stated that the group will once again release prices beginning on Monday (October 9), citing APSGJA President Haji Haroon Rasheed.
By 1451 GMT, spot gold on the international market had fallen 0.2 percent to $1,818.39 per ounce, while US gold futures had also fallen 0.2 percent to $1,830.40 per ounce.
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