Gold rates drop in Pakistan even as globally price increases

KARACHI: The price of gold has once again shrunk on Monday by Rs100 per tola in Pakistan bullion market reaching Rs118,000 during the day, ARY News reported.

Similarly, the 10-gram gold prices have seen a decrease of Rs86 following which it slided to Rs101,165 today. The decrease in the prices of gold today was depsite the fact that globally the gold prices have increased by $2 dollar an ounce to reach $1,786.

Muhammad Arshad, the chairman of the All Pakistan Jewellers Manufacturers Association, have quoted all the price changes today in the local markets.

Rupee rebound continues as US dollar drops

It is pertinent to note today that the Pakistani rupee continued its recovery against the United States (US) dollar in the interbank currency market on the first trading day of the week.

According to forex dealers, the local unit today opened on a positive note at Rs171.65 and climbed further to Rs171, registering an appreciation of 65 paisas against the greenback in the interbank market.