KARACHI: Gold continued to decline in the local market on Tuesday as the rupee edged up a little bit versus the dollar in the interbank and open markets with the IMF’s encouragement for the loan programme to be revived.
The price of gold (24 carats) declined by Rs 700 per tola and Rs 600 per 10 grammes to reach Rs 197,300 and Rs 169,153, respectively, according to data from the All-Pakistan Sarafa Gems and Jewellers Association (APSGJA).
The price of the precious metal decreased by $7 to $1,842 on the global market.
Nevertheless, silver prices in the domestic market remained constant at Rs2,140 per tola and Rs1,834.70 per 10 grammes, respectively.
In the interbank market, the Pakistani rupee strengthened by 0.02% against the US dollar, ending the day at 277.87 as opposed to yesterday’s Rs277.92.