Gold price falls for fourth straight day in domestic market

KARACHI: The per tola gold price registered a decline on the fourth consecutive day in the domestic market on Thursday.

According to Chairman All Pakistan Jewellers Manufacturers Association, Muhammad Arshad, the per told gold price witnessed a decline of Rs50 in the domestic market.

The new price of per tola gold now stands at 111,750, said Chairman All Pakistan Jewellers Manufacturers Association, Muhammad Arshad.

Likewise, the rate of 10 grams of the precious metal decreased by Rs43 to Rs95,807.

In the international market, yellow metal increased by $2 and was traded at $1,870 per ounce.

On the other hand, workers’ remittances remained above $2 billion for a record fifth consecutive month in October 2020, the State Bank of Pakistan (SBP) said on Thursday.

According to figures released by the central bank, Pakistan received $2.3 billion on account of workers’ remittances during October 2020, about the same as last month but 14 per cent higher than last year’s corresponding period.

During July-October period of the current fiscal year, remittances increased to $9.4 billion, recording a growth of 26.5 per cent as compared to the same period last year.