Gold soars to Rs113,600 per tola as Rupee closes lifetime low

MG News | September 15, 2021 at 06:17 PM GMT+05:00

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September 15, 2021 (MLN): Gold prices in Pakistan recorded an increase of Rs900 to Rs113,600 per tola on Wednesday due to weakening of the Rupee against USD.

Since rupee-dollar parity impacts local pricing, the PKR closed a new lifetime low of Rs169.12 against USD in the interbank market on Wednesday.

Similarly, the price of 10-gram 24 karat gold inflated by Rs772 to clock in at Rs97,394 while 10-gm 22 karat gold traded at Rs89,278 against Rs88,570 yesterday, Karachi Sarafa Association reported.

On the other hand, the price of 24-karat silver witnessed a drop of Rs20 and traded at Rs1,410 while the price of 10-gram silver decreased by Rs17.16 to close at Rs1,208.84.

In the International market, the demand for gold moved up by $16 to trade at $1,803 an ounce on prospects of lower interest rates while silver was valued at $23.82 an ounce.

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