Gold rate slumps as rupee gains upper hand


Constant recovery of the rupee against the US dollar coupled with the expectation of an interest rate hike pushed down the price of per tola gold by Rs1,000 in Pakistan.

According to the data released by the All-Pakistan Sarafa Gems and Jewellers Association (APSGJA), the price of gold (24 carats) declined by Rs1,000 per tola and Rs857 per 10 grams to settle at Rs195,100 and Rs167,267, respectively.