Gold Prices in Pakistan register drastic rise overnight

Gold Prices in Pakistan register drastic rise overnight

KARACHI – The price of gold in Pakistan registered a drastic increase of near Rs 2,000 per tola.

Gold prices crossed the Rs 62,000 per tola mark in the local market.

For 10g gold, the price surged by Rs1457, and it is available at R53,155 in the market

Unlike the local market, the gold price observed a decline of $7 in the international market where the price for per ounce yellow metal stood at $1187.

The US dollar hit Rs.134 against Pakistani rupee in the interbank market on Tuesday, a day after the government announced that it was going to the International Monetary Fund (IMF) for a bailout.

According to local media reports, the US dollar gained Rs9.75 against Pakistani rupee. On Monday, the US dollar was being offered at the rate of Rs124.25 in the interbank market.

However, with a sharp Rs 9.55 rise within a few hours, the rupee devalued considerably against the dollar.