Gold shines amid depreciation in rupee, gains Rs100 per tola in Pakistan
Cumulatively, the yellow metal has gained Rs1,300 per tola during the last two days
March 18, 2022
- Gold price settles at Rs130,250 per tola Rs111,668 per 10 grams.
- Cumulatively, the yellow metal has gained Rs1,300 per tola during the last two days.
- Globally, gold price dropped by $10 per ounce to settle at $1,932.
KARACHI: Gold prices recorded a meagre gain of Rs100 per tola in the local market on Friday amid constant depreciation in rupee against the US dollar.
The metal price was up Rs100 at Rs130,250 per tola and increased by Rs85 to Rs111,668 per 10 grams.
The rates of gold were Rs130,150 per tola and Rs111,583 per 10 grams on Thursday.
Cumulatively, the yellow metal has gained Rs1,300 per tola during the last two days.
The gold price for local markets is determined by keeping in view its prices in world markets, rupee-dollar exchange rate, and demand and supply in local markets.
In the international market, bullion prices dropped by $10 per ounce to settle at $1,932 as the dollar strengthened, with prices on course for their biggest weekly fall in nearly four months as some of the safe-haven demand spurred by Russia's invasion of Ukraine cooled.
Gold rates in Pakistan are around Rs5,500 below the cost compared to the rate in the Dubai market.
Meanwhile, silver prices in the domestic market remained unchanged at Rs1,500 and Rs1,286 today.
