Slight drop in gold price in local market / In the local bullion market, gold prices still fell sharply today / Gold trading remains suspended in major bullion markets across the country / After the increase in the value of Rs., the prices of vehicles reduced by Rs

 

Slight drop in gold price in local market

The current price of gold is Rs 188,000 (October 6^th 2023)

The price of gold in Pakistan has decreased by 100 rupees. Law enforcement agencies have launched a crackdown on illegal activities in the local gold market.

Although the All-Pakistan Sarafa Gems and Jewelers Association has not released gold rates since September 12, according to an Express report, the current price of gold is Rs 188,000. While 10 grams is Rs 160,400.

When the prices were last released, the price of 24 carat gold. 215,000. The price of gold has continued to fall since the start of the crackdown. It is worth noting here that the price of gold was at an all-time high. In early September, the price of gold was 240,000 per tola.

Haji Haroon Rasheed, President of All Pakistan Sarafa Gems and Jewelers Association has said that the association will once again issue rates from Monday, October 9.

A 15-member advisory council has been established to make gold trade transparent and for the development of the gold sector, the Federal Ministry of Industry has also issued a notification. Senior gold trader Haji Haroon Chand was not included in the council.

In the local bullion market, gold prices still fell sharply today

The price of gold per tola rose to Rs 1 lakh 97 thousand, Jewellers

Gold prices continued to decline in the local bullion market today.

According to the media report, after a decrease of Rs. Thousand came to the level of 894 rupees.

It should be remembered that on August 31, the price of gold per tola had reached the highest level of Rs 2 lakh 39 thousand 800. After which the price of gold per tola has decreased by a total of 50 thousand rupees.

It is worth noting that in the absence of official gold rates, consumers at jewelery shops are in a state of confusion. Gold prices are released on a daily basis by the All Pakistan Gems and Jewelers Association, however law enforcers The association has not been releasing daily gold prices since Wednesday last week, following a crackdown on alleged betting and smuggling by institutions.

On the other hand, traders say that the wedding season is on, but gold purchases by families are also slowing due to reduced purchasing power of consumers and increasing incidents of jewelery theft.

Gold trading remains suspended in major bullion markets across the country

Uncertainty arose among traders and buyers

Gold trading in key bullion markets across the country remains suspended since September 13, 2023, causing uncertainty among traders and buyers.

According to traders, the suspension of gold trading is at the behest of law enforcement agencies, which are trying to curb other corruption in the bullion trade, including price-fixing speculation, smuggling and hoarding by various mafias and profiteers.

The price of gold per tola reached an all-time high of 240,000 per tola in early September. On the other hand, gold is being smuggled to neighboring countries, which has increased its prices to alarming levels.

Haji Haroon Chand, president of All Pakistan Sarafa Gems and Jewelers Association, says that gold trade is expected to resume once the revised trade rules are clarified by the authorities.

After the increase in the value of Rs., the prices of vehicles reduced by Rs

According to the company, the reduction in vehicle prices will be applicable from October 6, 2023

Car prices in Pakistan have dropped by lakhs of rupees after the appreciation of the rupee against the US dollar.

Pakistani car manufacturer Lucky Motors Corporation, which is the local partner of South Korean car manufacturer Kia Motors, has announced a reduction in the prices of its various models and variants from Rs 1 lakh to Rs 5 lakh. According to the company, the reduction in vehicle prices will be applicable from October 6, 2023.

The statement issued on Thursday said that we want to inform customers about each and every development that is directly related to their benefit. The statement further said that in the context of increasing value of Pakistan currency against the US dollar in recent days, we have decided to transfer the benefit to the consumers.

The company says that therefore the prices of various models of the company's vehicles are being reduced. According to the company, the price of Picanto has been reduced by one lakh rupees, after which its price has become 38 lakh 50 thousand.

The price of the FWD variant of the Sportage has been reduced by Rs 1.5 lakh, after which its price has been reduced from Rs 81 lakh 90 thousand to Rs 80 lakh 40 thousand. While the price of Sportage (FWD) has also been reduced by one and a half lakh.

The price of Sportage (Black) has been reduced by Rs 350,000 from Rs 96,50,000 to Rs 93,000.

The price of the Sorento (2.4 FWD) has been reduced by Rs 5 Lakh, bringing it down from Rs 18 Lakh to Rs 13 Lakh.

The price of the Sorento (2.4 LFWD) has been reduced by Rs 5 Lakh, after which the price of the vehicle has been reduced from Rs 1.17 Lakh to Rs 11.2 Lakh.