Gold holds steady despite rupee’s record fall
- Price of 24-carat bar remains unchanged at Rs232,600 per tola in local market
Despite gain in international market and rupee falling to a fresh low against the US dollar, gold prices in Pakistan remained unchanged at Rs232,600 per tola on Thursday.
The price of 10 gram gold also remained the same at Rs199,417, according to the rates shared by the All Pakistan Gems and Jewellers Sarafa Association (APGJSA).
On Wednesday, gold prices in Pakistan had declined by Rs1,900 in the local market.
In the international market, the price of the precious metal increased by $11 to $1,915 per ounce on Thursday.
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Meanwhile, silver also traded at the same rate of Rs2,800 per tola in the local market.
The gold prices in Pakistan closely follow trajectory of the US dollar as the country remains a net importer of the precious metal.
However, the yellow metal held steady on Thursday despite the Pakistani rupee registered a new record low as it dropped below the 300 level for the first time against the US dollar in the inter-bank market on Thursday.
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