Gold rates move up in domestic market
KARACHI: Gold prices witnessed an upward trend as the per tola price of the precious metal on Thursday witnessed an increase of Rs400 to Rs104,300 in the domestic market, ARY News reported.
Sharing the price of the precious metal, All Pakistan Jewelers Manufacturers Association Chairman Muhammad Arshad said that the rate of 10 grams of gold increased by Rs334 to Rs89,421.
Gold slipped 1% on Thursday, retreating from a two-month high, as an uptick in the dollar and U.S. Treasury yields hurt the metal’s appeal, while palladium lingered near an all-time high.
Spot gold was 0.7% lower at $1,780.36 per ounce after hitting its highest since Feb. 25 at $1,797.67. U.S. gold futures dipped 0.7% to $1,780.90.
Rupee weakens against US dollar
The Pakistani rupee depreciated 22 paisas against the United States (US) dollar in the interbank currency market on Thursday.
According to the State Bank of Pakistan (SBP), the local currency closed at 153.46 against the greenback, registering depreciation of 22 paisas over the previous close of Rs153.24.