Gold prices reduce in pakistan after Rupee appreciation

Gold prices reduce in pakistan after Rupee appreciation

*KARACHI: The per told gold price on Monday registered a decrease of Rs2200 in the domestic market. *

According to the rates issued by the All Pakistan Jewellers Manufacturers Association (APJMA), per tola gold price dropped by Rs2200 per tola to settle at Rs157,400.

Similarly, the price of 10 grams of gold also decreased by Rs1,886 to Rs134,945.

The per tola gold rate on last Thursday climbed to an all-time high of Rs160,400. *Rupee breaks losing streak *

The US dollar after days of hike in open market and interbank saw a decline against rupee on Monday amid government and SBP’s assurance that the country will have enough funds for FY2022-23 after receiving IMF tranches.

According to forex dealers, the US dollar shed Rs0.53 in the interbank and closed at Rs238.84 as the banks sold the greenback at Rs239.50. In open market, after touching the Rs250 mark, the US dollar declined link to Rs240.