Gold Prices in Pakistan Today Decrease Amid ExxonMobil Tax Settlement
The gold price decrease in Pakistan comes as the global economy continues to navigate complex financial transactions and tax regulations. The ExxonMobil settlement highlights the importance of tax compliance, and the impact of the settlement will be closely watched by governments and corporations around the world.
Gold prices in Pakistan decreased on Friday, with the price per tola reaching Rs357,000 after a decline of Rs1,595 during the day, as the US Department of Justice announced a settlement with ExxonMobil over tax evasion allegations.
The settlement, which requires ExxonMobil to pay $2.2 billion, is the largest ever reached by the DOJ in a tax case. The company allegedly used complex financial transactions to avoid paying taxes on its foreign earnings between 1998 and 2006. The investigation, which began in 2006, found that ExxonMobil had used various techniques to avoid paying taxes, including the use of "foreign tax credits" to offset its US tax liability.
In Pakistan, the 10-gram gold price fell to Rs306,069, down by Rs1,368, while the international rate of gold also decreased, with the rate at $3,356 per ounce, a decrease of $16. Silver price per tola declined by Rs24 to reach Rs3,796. The All-Pakistan Gems and Jewellers Sarafa Association quoted the gold prices in Pakistan on June 21, 2025.
The settlement between the DOJ and ExxonMobil is a significant victory for the government, and the company has agreed to the settlement without admitting any wrongdoing. ExxonMobil has said that it is pleased to have resolved the matter and is committed to complying with all tax laws and regulations. The decrease in gold prices in Pakistan may be a welcome relief for consumers, but the impact of the ExxonMobil settlement on the global economy remains to be seen.