Gold shines amid depreciation in rupee, gains Rs100 per tola

KARACHI: Gold prices recorded a meagre gain of Rs. 100 per tola in the local market on Friday amid constant depreciation in rupee against the US dollars.

The metal price was up Rs. 100 at Rs. 150, 250 per tola and increased by Rs. 85 to Rs. 111,668 per 10 grams.

The rates of gold were Rs. 130, 150 per tola and Rs. 111, 583 per 10 grams on Thursday.

Gold prices drop up to Rs. 400 per tolah in Pakistan

Cumulatively, the yellow metal has gained Rs. 1,300 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 internationl market, bullion prices dropped by $10 dollars per ounce to settle at $1,932 as dollar strengthened, with prices on course for the 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 Rs. 5,500 below the cost compared to the rate in Dubai market.

Price of gold per tola continues to fall

Meanwhile, silver prices in the market remain unchanged at Rs. 1,500 and Rs. 1,286 today.

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