KARACHI: On Monday, the Gold Prices in Pakistan increased by Rs3,000 a tola on the domestic market, reversing a two-day downward trend in local markers.
The price of the valuable yellow metal per tola jumped by Rs 3,000 to Rs 156,000, according to the All Pakistan Jewellers Manufacturers Association.
The cost of 10 grammes increased by Rs2,572 to Rs113,745 in a similar manner.
The price of yellow metal increased by Rs7,300 a tola throughout the course of the week that ended September 10.
Rupee freefall keeps going
Despite Pakistan getting a loan tranche from the IMF for US$1.16 billion, the US dollar kept moving up in the exchange market against the US dollar (IMF)
Forex dealers report that while the banks are selling the dollar for Rs230.40, it gained Rs0.72 in interbank trading to trade at Rs229.90 against the rupee.
The open market’s range for the US dollar is from Rs235 to Rs237.