KARACHI: Gold prices continued their upward trend in the local market as per tola rate of the precious metal witnessed an increase of Rs350 in Pakistan, ARY News reported.
According to Pakistan Jewelers Manufacturers Association Chairman Muhammad Arshad, the per tola rate of the precious metal witnessed an increase of Rs350 to settle at Rs126,750.
Likewise, the price of 10 grams of gold increased by Rs290 to Rs108,667 in the local market.
US dollar flight continues as rupee weakens
The United States (US) dollar maintained its upward trend against the Pakistani rupee in the interbank currency market on Tuesday.
According to the data of the State Bank of Pakistan (SBP), the greenback closed at Rs176.72 against the domestic currency, showing appreciation of 23 paisas over the previous close of Rs176.49.
The Pakistani rupee weakened by 17 paisas against the US dollar in the interbank currency market last week. According to a weekly report, the greenback closed at Rs176.24 against the domestic currency on Friday, 17 paisas higher than Rs176.07 a week ago.