Price of Gold in Pakistan Increases Again as Rupee Falls

After a major drop in the previous session, the price of gold in Pakistan once again rose on Monday (April 17).

According to the data released by All-Pakistan Sarafa Gems and Jewellers Association (APSGJA), the price of gold (24 carats) went up by Rs. 1,100 per tola to Rs. 217,100 while the price of 10 grams went up by Rs. 943 to Rs. 186,128.

The increase in the price of gold came as the Pakistani Rupee (PKR) once again depreciated against the US Dollar (USD). At close, the PKR depreciated by 0.11 percent to close at 284.71 after losing 30 paisas during intraday trade today.

It is pertinent to mention here that at the end of last week after the rupee posted consecutive gains against the dollar, the price of gold plunged by Rs. 2,600 per tola on Saturday.

In the international market, gold continued to hold above the $2,000 level on Monday with spot gold up 0.3 percent to $2,008.09 per ounce at 1225 GMT, while US gold futures were 0.3 percent higher at $2,022.00.

Leave a Reply

Your email address will not be published. Required fields are marked *

GIPHY App Key not set. Please check settings

    iOS 17 again rumored to support iPhone app sideloading due to EU regulations

    Apple execs reportedly think Mixed Reality headset could replace the iPhone