Gold continues to fall in domestic market

KARACHI: Gold rates on Monday registered a decline in the domestic market as per tola price of yellow metal fell by Rs200 to Rs111,650, ARY News reported.

Similarly, the rate of 10 grams of gold dropped by Rs171 to Rs95,721, according to All Pakistan Jewelers Manufacturers Association Chairman Muhammad Arshad.

International market

According to Reuters, gold eased on Monday as U.S. Treasury yields firmed slightly, while investors awaited key inflation readings that could offer clues on the Federal Reserve’s monetary policy going forward.

Spot gold was down 0.2% at $1,885.42 per ounce by 1215 GMT, while U.S. gold futures eased 0.2% to $1,887.60.

Silver dipped 0.8% to $27.56 per ounce, palladium was down 0.4% at $2,832.63, and platinum rose 0.3% to $1,165.51.

Rupee depreciates against US dollar

The Pakistani rupee depreciated 69 paisas against the United States (US) dollar in the inter-bank currency market on Monday.

Interbank closing #ExchangeRate for today:https://t.co/uFQLIxCrf5 pic.twitter.com/HDtEwsZyvT

— SBP (@StateBank_Pak) June 7, 2021

According to the State Bank of Pakistan (SBP), the local currency closed at 155.31 against the greenback, registering depreciation of 69paisas (-0.44%) over the previous close of Rs154.62.