Karachi: Gold price in Pakistan plunged by Rs2,800 per tola despite the depreciation of the Pakistani rupee against the US dollar and rising international prices.

The price of gold settled at Rs142,600 per tola. Meanwhile, with a fresh decline of Rs2,397 per 10 grams, the gold price settled at Rs122,256.

Gold is facing some pressure with the resumption of the dollar strength and also because the minutes talked about hiking rates.

Cumulatively, the yellow metal gained Rs11,200 per tola during August 16-17; recovering the losses incurred during the period of August 10-15 which amounted to Rs9,300 per tola. 

It should be noted that the gold price is standing below cost. Gold is cheaper by Rs5,000 per tola compared to its price in Dubai.

In the international market, bullion prices registered nominal gains of $2 per ounce to settle at $1,771 as bond yields slipped despite pressure from a firmer dollar and expectations that the US Federal Reserve will keep raising interest rates.

Meanwhile, silver prices in the domestic market remained unchanged at Rs1,540 per tola and Rs1,320.30 per 10 grams today.

Rotterdam: The second One-Day International of the three match series between Pakistan and Netherlands will be played on Thursday (today) at Rotterdam.

The match will start at 02:00 pm.

Pakistan is leading the series by 1-0.

Pakistan squad

Babar Azam (c), Shadab Khan, Abdullah Shafique, Fakhar Zaman, Haris Rauf, Imam-ul-Haq, Khushdil Shah, Mohammad Haris, Mohammad Nawaz, Mohammad Rizwan, Mohammad Wasim Jnr, Naseem Shah, Salman Ali Agha, Shaheen Afridi, Shahnawaz Dahani, Zahid Mehmood

Netherlands squad

Scott Edwards (c), Musa Ahmad, Shariz Ahmad, Wesley Barresi, Logan van Beek, Tom Cooper, Aryan Dutt, Arnav Jain, Viv Kingma, Ryan Klein, Bas de Leede, Teja Nidamanuru, Tim Pringle, Max O'Dowd, Vikram Singh

Islamabad: Prime Minister Muhammad Shehbaz Sharif has directed NDMA, PDMA, and the provincial government to speed up relief operations in the flood-affected areas immediately.

According to PM Office, Shehbaz Sharif said the first priority in a flood situation is the rescue of the affected people and their immediate assistance.

He also directed that 50000 rupees should be provided immediately to each victim's family.

The Prime Minister directed for immediate provision of accommodation, medical facilities, food, and clean drinking water to the victims.

He expressed deep sorrow over the loss of lives and properties due to floods in southern Sindh.