According to figures released by Pakistan Bureau of Statistics, official gold import in terms of quantity went up to 6,745kg ($346 million) in July-June 2012-2013 as against 3,267kg worth $172 million imported in the previous year.
Exports of jewellery hit $1.2bn during 2012-2013 as compared to $916 million in the same period last fiscal year, showing a jump of 28.5pc.
Hanif Chand of Karachi Saraf and Jewellers Group said that the increase in gold import does not mean increase in countrys gold consumption, but jewellery exporters are actually bringing more gold for jewellery export due to growth in jewellery exports.
He said that domestic gold rates had been hovering in view of fluctuation in world gold prices.
Currently gold in Pakistan is costlier by Rs300-350 per tola as compared to Dubai, he claimed.
He added that he cannot predict about future domestic gold price since it has been linked with movement in global gold prices.
He, however, said that people of Pakistan had been active in gold investment, especially in small gold bars. He recalled that small gold bars became short just two days ahead of Ramazan.
Chand claimed that many people, instead of buying finished jewellery gold sets, first prefer lifting pure gold in bar shapes for making jewellery as per their requirement. As the marriage season will get into full swing after Eidul Fitr, people needing gold jewellery and bars have already become active in the market.
The 10 gram gold price fell by Rs428 on Thursday to 45,857 while one tola yellow metal price dropped by Rs500 to Rs53,500 as compared to rates prevailing on Wednesday.
The decline in price was attributed to $29 per ounce fall in world market in the last one day to set at $1,315 per ounce.Gold prices in July 2012 were Rs56,900 per to
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