Islamabad: In the wake of the strengthening Pakistani rupee, the gold price in Pakistan continued recording losses as it further plunged by Rs700 per tola.
According to the All Sindh Sarafa Jewellers Association, the price of gold on Monday dropped further by Rs700 per tola and Rs600 per 10 grams to settle at Rs143,100 and Rs122,685, respectively.
In the last two sessions (Saturday and Monday), the price has plunged by Rs1950 per tola.
The steady fall in gold prices is also attributed to the continued strengthening of the PKR, as for the 12th consecutive session on Monday, the local currency appreciated against the US dollar in the interbank market.
In a similar fashion, the gold price plunged by $18 in the international market as well to settle at $1,677.
Meanwhile, silver prices in the domestic market declined by Rs10 per tola and Rs8.58 per 10 grams to settle at Rs1,570 per tola and Rs1,346.02 per 10 grams.