Gold continues downward trend in Pakistan

KARACHI: Gold continued its downward spiral in the domestic market as per tola price dropped by Rs400 on Wednesday, ARY News reported.

According to the All Pakistan Jewellers Manufacturers Association, per tola price of the precious yellow metal decreased by Rs400 to Rs143,150 while the price of 10 grams was reduced by Rs343 to Rs122,728.

The gold hit an all-time high of Rs162,500 per tola on July 28.

Dollar continues downward slide

The US dollar on Wednesday continued to shed value against rupee after the banks and exchange markets opened after a long weekend.

According to forex dealers, the greenback shed Rs2.13 in the interbank and traded at Rs221.91 while the banks are selling the US dollar at Rs222.75.

In open market, the dollar declined by Rs2 and traded between Rs218 and Rs220.