Gold gained Rs 150 reaching Rs 84,700 per tola on the local market, traders said Friday. Gold was traded for Rs 72,617 per 10 grams after the yellow metal declined by $4 to $1,472 per ounce on the world market. Silver priced for Rs 980 per tola, Rs 840.20 per 10 grams and $17 an ounce, traders added.

Pakistan's import of gold plunged by 7 percent or $407,000 to $5.647 million in July-October 2019 from $6.054 million in July-October 2018.

Import volume of gold also declined by 14 percent or 21 kilograms to 134 kilograms in July-October 2019 from 155 kilograms in July-October 2018.

In October 2019, the country's import of gold reduced to $1.173 million from $1.424 million in October 2018, showing a decline of 18 percent or $251, 000. Down by 25 percent or 9 kilograms, the country's import of gold slipped to 27 kilograms in October 2019 from 36 kilograms in October 2018, according to Pakistan Bureau of Statistics.

Copyright Business Recorder, 2019