Gold plunges by Rs 2150

Gold on Saturday plunged by Rs 2150 per tola to Rs 91600 on the local market, traders said.

The yellow metal is selling at Rs 78532 per 10 grams, down by Rs 1844 and $1585 an ounce, down by $42 on the world market. Silver is available for Rs 1000 per tola, down by Rs 20, Rs 857.33 per 10 grams, down by Rs 17.17, and $16.71 an ounce, they added.

Pakistan imported 4 percent or $351,000 of more gold to $10.068 million during July-Jan 2019-20 from $9.717 million during July-Jan 2018-19, Pakistan Bureau of Statistics says. Import volume of the metal is down by 3.23 percent or 8 kilograms to 240 kilograms in July-Jan 2019-20 from 248 kilograms in July-Jan 2018-19. Down by 7.13 percent or $69, 000, the country imported $899,000 of gold comparing to the yellow metal import of $968,000 in Jan 2019.