Gold price increases in Pakistan

KARACHI: The price of gold witnessed an increase of Rs300 per tola in Pakistan on Monday, ARY News reported.

The per tola of precious yellow metal now costs Rs113,600, said Muhammad Arshad, the chairman of the All Pakistan Jewellers Manufacturers Association.

Likewise, he added, the rate of 10 grams gold rose by Rs257 to Rs97,393.

In the International market, gold prices firmed on Monday, propped up by a subdued dollar and slight retreat in the U.S. Treasury yields.

Spot gold was up 0.4% at $1,757.00 per ounce, while U.S. gold futures were up 0.4% at $1,758.50.

Silver rose 0.9% to $22.62 per ounce.

Platinum climbed 0.8% to $990.04, while palladium gained 0.6% to $1,983.89.

US dollar

The Pakistani rupee hit a record low of Rs169.60 against the United States (US) dollar in the inter-bank currency market on the first trading day of the week.

The local unit saw a new all-time inter-day low of Rs165.65 before closing at Rs169.60 against the greenback.

The rupee registered depreciation of 52 paisas over Friday’s close of Rs169.8, according to the State Bank of Pakistan (SBP).