Gold price extends decline in domestic market
- By Web Desk -
- Aug 24, 2022
KARACHI: Gold prices extended losses on Wednesday as per the tola price of precious yellow metal plunged by Rs100, ARY News reported.
According to the All Pakistan Jewellers Manufacturers Association, the per tola price of gold decreased by Rs100 to Rs142,500 while the price of 10 grams was reduced by Rs50 to Rs122, 200.
The gold hit an all-time high of Rs162,500 per tola on July 28.
Read More: Gold prices drop in Pakistan
The US dollar continued flight against rupee in interbank amid reports of currency shortage despite assurances of financing from friendly countries and the IMF.
According to the State Bank of Pakistan, the greenback closed at Rs218.38 in interbank today after a hike in value by Rs0.72 while the banks are selling it at Rs219.
In open market, the US dollar traded between Rs225 and Rs227.