*KARACHI: The per tola gold rate on Saturday recorded an increase of Rs1300in the domestic market. *
According to all Pakistan Jewellers Manufacturers Association (APJMA), theper tola gold rate soared by Rs1300 to settle at Rs159,600 in the domesticmarket.
The per tola gold rate on Thursday climbed to an all-time high of Rs160,400.
Gold dealers said the massive depreciation in the rupee value against thedollar is one of the main reasons for pushing up the yellow metal rates.
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The rupee’s freefall continued on early Friday against the US dollar in theinterbank, however, it reversed the losses in the second half amid reportsthat COAS Qamar Bajwa has approachedlink forplaying a role in immediate release of a US$1.2 billion tranche.
