Connect with us

Hi, what are you looking for?

Online Business Success

Gold pulls back as rupee strengthens, price drops by Rs300 per tola

392989 054623 updates

Person wearing rubber gloves wiping clean bars of gold — AFP
Person wearing rubber gloves wiping clean bars of gold — AFP
  • Gold loses Rs300 to settle at Rs125,700 per tola.
  • Bullion prices drops by Rs258 to Rs107,767 per 10 grams.
  • Silver prices in the domestic market remain unchanged.

KARACHI: Gold prices slipped on Wednesday as the rupee ticked up from its lows and investors showed caution in the run-up to the announcement of a monetary policy later this week.

The yellow metal lost Rs300 to settle at Rs125,700 per tola and Rs258 to fall to Rs107,767 per 10 grams in the domestic market.

The rupee index inched 0.23% higher, owing to the balanced demand and supply of the greenback.

On the international front, gold prices edged higher ahead of the US inflation data that could provide further direction on US monetary policy after comments from the Federal Reserve Chair lifted bullion in the last session.

The international gold price rose by $11 per ounce to $1,818.

However, it is pertinent to mention that the gold rates in Pakistan are around Rs1,500 below cost compared to the gold rate in the Dubai market.

Meanwhile, silver prices in the domestic market remained unchanged at Rs1,450 per tola and Rs1,243.14 per 10 grams today.

Source link

Advertisement. Scroll to continue reading.

Click to comment

Leave a Reply


Top Stories

FTX founder Sam Bankman-Fried and Alameda Ventures made recent headlines for bailing out a handful of CeFi crypto platforms this week, but what exactly...

Top Stories

Although Bitcoin is struggling to form a bottom, altcoins are on a roll and the current price action could benefit UNI, XLM, THETA and...

Top Stories

Ethereum’s native token Ether (ETH) has declined by more than 35% against Bitcoin (BTC) since December 2021 with a potential to decline further in...

Top Stories

The company enables artists and collectors to create, purchase and resell NFTs via blockchain-enabled transactions. Source link


Interested in learning what’s next for the gaming industry? Join gaming executives to discuss emerging parts of the industry this October at GamesBeat Summit...

Top Stories

Bitcoin (BTC) made the most of weekend volatility on June 26 as a squeeze saw BTC/USD reach its highest in over a week. BTC/USD...


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....

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...

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

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...