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Gold price drops by Rs300 in Pakistan

KARACHI: The price of gold dropped by Rs300 per tola in the domestic market on Wednesday.

A tola of yellow metal reached Rs110,150, according to rates shared by Chairman of the All Pakistan Jewelers Manufacturers Association Muhammad Arshad.

Similarly, the rate of 10 grams of gold dropped by Rs157 to Rs94,435.

Also Read: Gold prices down Rs2300 per tola in domestic market

According to Reuters, Gold in the global market firmed after retreating in previous sessions, with a weaker dollar helping offset a shift to equities and other riskier assets on vaccine-led economic recovery hopes.

Spot gold rose 0.2% to $1,811.00 per ounce by 0914 GMT. On Tuesday, it hit its lowest since July 17 at $1,800.01.

U.S. gold futures also rose 0.2% to $1,808.80 per ounce.

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