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Friday, November 22, 2024

Home Pakistan Gold rate sees major drop in Pakistan as rupee gains strength

Gold rate sees major drop in Pakistan as rupee gains strength

by Web Desk (Lahore)
September 8, 2023
in Business, Pakistan

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KARACHI – The gold prices continued a negative trajectory as the Pakistani rupee makes comeback in open market and interbank.

Data shared by All Pakistan Gems and Jewellers Sarafa Association (APGJSA) said the price of yellow metal dropped another Rs4,000 per tola, settling at Rs212,500.

Meanwhile, the price of 10 grams lowered to Rs182,184 on last working day of the week.

Globally, the price of yellow metal increased by $2 and settled at $1,923 per ounce.

Bullion remained volatile in crisis-hit country amid economic uncertainty, and record inflation.

Its price however moved down as local currency appreciated against the US dollar.