KARACHI – Gold prices have experienced a notable decline in domestic market of Pakistan on Tuesday in line global downward trend.
In the international bullion market, the price of gold per ounce dropped by $70, reaching $4,013.
As a result of this global price drop, the local market also saw a sharp reduction. The price of gold per tola fell by Rs7,000, bringing it down to Rs423,662.
Similarly, the price of gold per 10 grams dropped by Rs 6,002, bringing it to Rs 363,221.
This sudden decline in gold prices comes amid fluctuating trends in the global market, impacting local consumers and investors alike.
Meanwhile, the value of the Pakistani rupee has seen a modest increase against the US dollar in the interbank market.
According to the State Bank of Pakistan, the rupee appreciated by 1 paisa against the US dollar, bringing its new value to Rs l280.71 per dollar.
In addition to the US dollar, other foreign currencies also recorded changes in the interbank market. The Saudi Riyal stood at Rs74.85, while the Bahraini Dinar was valued at Rs744.54.
The Omani Rial was priced at Rs729.12, the Kuwaiti Dinar at Rs915.29, and the Qatari Rial at Rs77.
In contrast, the open market saw the US dollar being bought at Rs281.55 and sold at Rs281.80.
