Gold falls in Pakistan as Iran-America tensions diffuse

Gold falls in Pakistan as Iran-America tensions diffuse
Lahore: Reduction in tensions between Iran and America has had a positive result on Pakistan's markets as gold falls by Rs. 2500 per tola after the previous metal fell in global markets.

After President Donald Trump's statement on Wednesday pledging economic sanctions on Iran instead of military reaction, fears of regional conflict decreased, providing relief to world markets. Falling by $32 on Thursday, gold futures were being traded at $1548 per ounce.

Pakistan too saw gold prices fall by Rs. 2500 per tola, to trade at Rs. 90,500 per tola.

The price of 10 grams of gold also fell by Rs. 2,141 to settle at Rs. 77,590.

The dollar fell by 19 paisas in the interbank exchange rate, coming down from Rs. 155.07 to close at Rs. 154.88.

Open market rates fell by 10 paisas to come down from Rs. 155.80 to Rs. 155.70.