Gold prices Thursday fell by Rs500 per tola to Rs94,500 on the local market, traders said. The precious metal was selling for Rs81,018 per 10 grams, down by Rs428, and $1,639 an ounce, down by Rs428 on the world market. Silver was available for Rs1,000 per tola, Rs857.33 per 10 grams and $16.70 an ounce, they said.

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. Gold import quantity also dipped to 18 kilograms in Jan 2020 from 25 kilograms in Jan 2019, showing a fall of 28 percent or 7 kilograms.