Connect with us

Hi, what are you looking for?

Online Business Success

Gold price drops to Rs124,850 in Pakistan


— Reuters/File
— Reuters/File

KARACHI: Gold price fell in the local market on Tuesday as a strengthening rupee against the dollar weighed on the yellow metal.

Gold price in the local bullion market fell by Rs1,350 per tola and Rs1,157 per 10 gram today to reach Rs124,850 and Rs107,039 amid rising prices in the international markets.

The precious commodity closed at Rs126,200 per tola and Rs108,196 per 10 grams on Monday.

Investors are concerned regarding the upcoming Monetary Policy Committee (MPC) meeting scheduled to be held on November 19 as interest rate hikes tend to reduce non-interest bearing gold’s appeal as it raises the metal’s opportunity cost.

It recorded an increase of $11 per ounce to around $1,874 in the international market, according to All Sindh Saraf Jewellers Association (ASSJA).

The international gold price fell by $3 per ounce to $1,863.

Cumulatively, the precious commodity had gained Rs4,800 or 3.89% per tola during the last week.

Meanwhile, silver prices in the domestic market remained unchanged at Rs1,480 per tola and Rs1,268.86 per 10 grams today.

Advertisement. Scroll to continue reading.



Source link

Click to comment

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Advertisement

Latest

Online Business Success

— Reuters/File KARACHI: Gold price fell in the local market on Tuesday as a strengthening rupee against the dollar weighed on the yellow metal....

Loan And Finance

You’ve probably heard that holiday shopping will be a nightmare even the Grinch himself couldn’t dream up. Supply-chain troubles, shipping bottlenecks, and worker shortages...

Top Stories

In the past 30 years, the growth of the internet and digital technology has transformed the way the world operates and now artificial intelligence...

Social Media

After launching an initial test of new alert formats back in July, Twitter’s now rolling out its improved labels for misinformation, with variable messaging...

Technology

The Emotet malware kicked into action yesterday after a ten-month hiatus with multiple spam campaigns delivering malicious documents to mailboxes worldwide. Emotet is a...

Top Stories

The New York Digital Investment Group will be paying the National Basketball Association’s Houston Rockets franchise in Bitcoin as part of a partnership aimed...

Top Stories

Ether (ETH) traders might have a few reasons to panic after today’s 13% drop down to $4,100. The swift pullback appears to have broken...

Online Business Success

— AFP/File With a fresh increase of 0.23%, the Pakistani rupee settles at Rs174.89 against the US dollar in the inter-bank market. Adnan Agar...

Advertisement

You May Also Like

Blogging

In this post, I will discuss the top ten profitable blogging niches ideas for Adsense approval and high traffic. whether you use Blogger or...

SEO Guide

Want to rank in Google image search? Images that you use as a featured images when writing a post actually appear on Google Images...

SEO Guide

How to index website on Google? Do you want to drive more organic traffic to your new website? I am sure your answer is...

SEO Guide

There are all kinds of pictures of the world on the internet, but to find one of these specific pictures that you want to...

Advertisement