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Gold registers Rs280 dip per tola after continuous price surges

Gold registers Rs280 dip per tola after continuous price surges

KARACHI: Gold prices fell by Rs280 to Rs97,620 per tola in the domestic market on Saturday after continuous appreciation in the recent past.

Likewise, the rate of 10 grams of the precious metal decreased by Rs239 to Rs83,693.

In April , per tola price of gold had surpassed Rs100,000 mark for the first time in the country’s history.

The price of the yellow metal rose Rs700 to an all-time high of Rs100,400 per tola.

Global gold rates also recorded a depreciation in rates, registering a four dollar fall.

Gold is currently price at $1705 per ounce in international markets.

In thin volume trade, discounts of up to $32 an ounce were offered over official domestic prices in India, the highest since early April. The domestic price includes a 12.5% import and 3% sales tax.

A few jewellers who had opened stores in May for a week were forced to shut again due to poor consumer response, said a Mumbai-based dealer with a bullion importing bank.