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Gold price slips by Rs1000 per tola

KARACHI: Gold prices on Thursday slashed by Rs 1000 per tola, closing in at Rs 77750, ARY News reported.

Price of 10 grams of gold saw a decrease of Rs856, closing at Rs66443.

On the other hand, the Pakistan Stock Exchange (PSX) closed today at 34570 points after KSE-100 index losses 325 points.

The US dollar which had soared to historic highs in the recent past has taken a downwards trajectory against the Pakistan Rupee as the greenback fell a further 1.11 PKR today (Wednesday).

Consequently, the greenback is being traded at Rs156.50.

Read More: Dollar continues to fall against the PKR after historic surge

Earlier, the rupee after a spell of free fall against US dollar crawling back to gain some lost space in the interbank market on July 2.

The value of dollar went down by Rs 2.30 to Rs 157.75 in the interbank market.

The value of US dollar also dipped by Rs 4.05 last Friday.

It is noteworthy that gold prices went up in global market on Monday, after its biggest one-day percentage fall in 2-1/2 years the previous session, as risk appetite soured on worries over global growth and uncertainties around a Sino-US trade deal.

Spot gold was up 0.6 per cent at $1,391.80 per ounce at 1205 GMT, after falling 1.8pc on Monday, its biggest one-day percentage decline since November 2016.

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