Gold prices drop in Pakistan

LAHORE: The gold prices dropped in Pakistan as per tola price witnessed a decline of Rs 2,100, ARY News reported on Saturday.

As per details, All Pakistan Gems and Jewellers Association (APGJA) said, that the price of 24-karat gold had decreased by Rs 2100 to settle at Rs 211,000 per tola.

The association said after a decline of Rs 1,800, 10 grams of 24-karat gold had settled at Rs180,898.

The price of gold in the international market had decreased by $17 to settle at $1958 per ounce.

On the international stage, gold prices have experienced an upswing, with the current rate standing at $1,957 per ounce.

This surge followed a gain of over 833 points, driven by several positive factors, including clarity on the election date and expectations of a favorable review from the International Monetary Fund (IMF).

Earlier today, the US dollar and other foreign currencies appreciated against Pakistani rupee in the working week. The greenback gained Rs 2.72 against Pakistani currency in interbank trading in the week.

USD rate increased in the interbank trading from Rs284.31 to 287.03 rupees this week. The US currency price increased by Rs3.00 in the open market on the week ended yesterday and closed at Rs288 from 285 rupees. The euro increased by five rupees in the week to reach Rs302 at the weekend.