Gold prices on Thursday plummeted by Rs 2500 per tola to Rs 90,500 on the local market, traders said. The precious metal price slumped to Rs 77,590 per 10 grams, down by 2141 and $1548 an ounce, down by $32. Silver was traded for Rs1070 per tola, Rs 917.35 per 10 grams and $17.95 an ounce, they added.

The country imported gold less by 5 percent or $376,000 to $7.443 million in July-Nov 2019 from $7.819 million in July-Nov 2018, Pakistan Bureau of Statistics shows. In term of quantity, the country's gold import stood at 183kgs in July-Nov 2019 comparing to its import of 200kgs in July-Nov 2018, depicting a fall of 9 percent or 17kgs.

In Nov 2019, gold import was $1.796 million up by 2 percent or $31,000 from $1.765 million in Nov 2018. Import volume of gold declined to 43kgs in November 2019 from 45 in November 2018, indicating a fall of 4.44 percent or 2kgs.