Gold prices drop in Pakistan

KARACHI: After witnessing continuous upward trends, gold rates in Pakistan registered losses on Monday in line with a decrease in the international rate.

According to rates shared by the All-Pakistan Gems and Jewellers Sarafa Association (APGJSA), gold price per tola reached Rs245,100 after gaining Rs1,300.

The 10-gram gold was sold at Rs210,134 after it registered a decline of Rs1,113,

Internationally, the price of precious yellow metal was set at $2,376 per ounce (with a premium of $20) after it lost $12 during the day.

Meanwhile, silver rates remained stable at Rs2,900 per tola.

On the other hand, Pakistan rupee witnessed a devaluation of 13 paisa against the US dollar in the interbank trading on Monday and closed at Rs 278.50.

According to the Forex Association of Pakistan (FAP), the buying and selling rates of the dollar in the open market, however, were Rs 279.9 and Rs 280.65 respectively.