Gold on Thursday was traded for Rs 84,550 per tola up by Rs,150 on the local market, traders said. Increase by $10 an ounce to $1476 on the world market drove the yellow metal price to 72488 per 10 grams scaling up by Rs 126. Silver was selling for Rs 980 per tola, Rs 840.20 per 10 grams and $ 16.88 an ounce, according to traders.

Pakistan's import of gold plunged by 7 percent or $407,000 to $5.647 million in July-Oct 2019 from $6.054 million in July-Oct 2018. Import volume of gold also declined by 14 percent or 21 kilograms to 134kg in July-Oct 2019 from 155kg in July-Oct 2018.

In Oct 2019, the country's import of gold reduced to $1.173 million from $1.424 million in Oct 2018, showing fall of 18 percent or $251, 000. Down by 25 percent or 9kg, the country's import of gold scaled down to 27kg in Oct 2019 from 36kg in Oct 2018.

Copyright Business Recorder, 2019