Gold price falls in Pakistan on rupee appreciation

KARACHI: The gold prices continued a downward trend in Pakistan on third consecutive day as per tola price of the precious yellow metal decreased by Rs6,800 in the domestic market on Tuesday, ARY News reported.

According to the All Pakistan Jewellers Manufacturers Association (APJMA), per tola gold price in the local market dropped by Rs1,450 to settle at Rs141,850.

Likewise, the price of 10 grams of gold also decreased by Rs1,243 to Rs121,614.

The Pakistani rupee on Tuesday extended its recovery against the US Dollar, appreciating by Rs3.30 in the interbank.

According to the forex dealers, the local currency gained Rs3.11 against the US dollar in the interbank market.

The local currency closed at Rs233.91 per dollar — an appreciation of 1.33 per cent from yesterday’s close of Rs237.02, according to the State Bank of Pakistan.