Connect with us

Hi, what are you looking for?

Online Business Success

Gold price plunges by Rs2,000 per tola in Pakistan

410330 060021 updates

A representational image. — Reuters/File
A representational image. — Reuters/File
  • Gold price declines Rs2,000 per tola to settle at Rs132,300.
  • Decline comes after rupee posts smart recovery against the US dollar. 
  • Silver price in the domestic market remains unchanged.

KARACHI: Gold lost its shine, as it declined by Rs2,000 per tola (11.66 grams) to Rs132,300 in Pakistan on Friday in line with the trend in the global markets following a smart recovery of the rupee.

The price of 10 grams of gold declined by Rs1,715 to settle at Rs113,426.

The correction in gold was overdue since long as political uncertainty had caused panic everywhere and people were relocating their capital to buying gold, as some regulations had made it difficult to buy dollars for everyone.

A day earlier, gold spiked to a new peak (Rs134,300 per tola) driven by the rupee devaluation.

It had maintained an uptrend for the past three successive working days in the domestic market androse by Rs3,100 in the three days (Tuesday-Thursday).

In the international market, the price of yellow metal recorded a meagre gain of $6 per ounce to settle at $1,933.

Gold rates in Pakistan are around Rs5,000 below the cost compared to the rate in the Dubai market. Meanwhile, silver prices in the domestic market remained unchanged at Rs1,520 and Rs1,303.15 today.


Source link

Advertisement. Scroll to continue reading.

Click to comment

Leave a Reply



Source: Bryan M. Wolfe/iMore YouTube is making it easier for people to see which parts of a video are most popular by highlighting the...

Loan And Finance

Allianz Global Corporate & Specialty (AGCS), Allianz’s entity for large-scale corporate and specialty risks, has appointed Tom Major (pictured) as regional head...


A new filing with the National Labor Relations Board claims that Apple store staff at its New York World Trade Center store were required...

Top Stories

Terraform Labs and co-founder Do Kwon continue to attract more legal trouble in the wake of the collapse of the Terra ecosystem. After early...


Apple has been denied a third trial in its patent dispute with Optis technology by a Texas judge, and will now have to pay...

Online Business Success

A representational image. — Batool Per capita income increased from Rs268,223 in 2020-21 to Rs314,353 in 2021-22. For fiscal year 2021-22, provisional GDP...


You May Also Like


Introductions get a lot of attention. I’ve explored the topic of how to write them even though as a reader, I always skip them....

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...

Online Business Success

The internet is now our nervous system. We are constantly streaming and buying and watching and liking, our brains locked into the global information...

Online Business Success

You can think of link building in many ways. I like to call it tedious, painful, and a test of patience. It’s also necessary...