KARACHI: Gold extended losses in Pakistan on Tuesday in line with dropping international prices.
Data issued by All Pakistan Gems and Jewellers Association showed per tola gold price dropped by Rs2,000 to settle at Rs241,900.
The price of 10-gram gold plunged by Rs1,715 to close at Rs207,390 in the domestic market.
Similarly, the precious commodity saw a downward trend in the international market as per ounce price dipped by $19 to close at $2,296.
A day earlier, the per tola gold price decreased by Rs500 to settle at Rs243,900. Similarly, the price of 10 grams declined by Rs429 to reach Rs209,105.
On the other hand, the United States dollar declined against the Pakistani rupee by 19 paisas on Tuesday.
The US dollar’s value fell to Rs278.20 in the interbank market. The dollar had fallen by a mere 8 paisas on Monday.
Pakistan’s new government is confident that there will be no significant devaluation of its currency as it engages in negotiations with the International Monetary Fund (IMF) to secure substantial lending and support its economic reform agenda, according to a new report by Bloomberg.
