KARACHI – Gold snapped its record-breaking spree as it witnessed highestsingle day drop on Tuesday in line with the downward trend in theinternational market.
The yellow metal plummeted by $22 to settle at $1,902 in the internationalmarket as the investors are closely observing the US Federal Reserve’sinterest rate hike decision.
The local price of gold decreased by Rs9,000 to reach Rs201,500 per tolawhile the price of 10 gram settled at Rs172,754 after witnessing a declineof Rs7,710, according to the All Pakistan Sarafa Gems and JewellersAssociation (APSGJA).
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Earlier in the day, the Pakistani rupee recovered slightly against the USdollar after witnessing historic low level following the dollar cap’sremoval by the government to meet a condition of the International MonetaryFund (IMF).
