Gold rates fall in local market

KARACHI: The gold prices continue to decline in Pakistan following the rupee’s appreciation against the United States (US) dollar, ARY News reported.

According to the All Pakistan Jewellers Manufacturers Association, the per tola price of gold decreased by Rs1500 to Rs139,000 while the price of 10 grams reduced by Rs1286 to Rs119,170.

The Pakistani rupee continued its upward trajectory and gained Rs1.37 against the US dollar, bringing the interbank rate down to Rs219.75.

According to the data shared by the State Bank of Pakistan (SBP), the Pakistani rupee closed at Rs219.75 after gaining Rs1.37 against the US dollar, up 0.63 percent.

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In the open market, the dollar was being sold at Rs219 to Rs221, according to data shared by the Forex Association of Pakistan (FAP).

Interbank closing #ExchangeRate for todayhttps://t.co/t0q5QjmALJ pic.twitter.com/xtRfnLy2Ca

— SBP (@StateBank_Pak) August 31, 2022