The increase has been linked to weakening of Pakistan Rupee against greenback
Karachi: Gold continued to extend gains in Pakistan for the second day on Friday as the yellow metal's price jumped by Rs850 per tola.
The Pak rupee continueed to decline against the US dollar.
The All Sindh Sarafa and Jewellers Association (ASSJA)'s data showed that the price of gold rose by Rs850 per tola and Rs728 per 10 grams to settle at Rs151,700.
The yellow metal had scaled record in July. Prices have since moved into a steadier range as the market digested a more hawkish outlook from the depreciating rupee and falling markets.
Investors were seen buying gold because the government and the central bank are trying to reduce the rupee-dollar parity.
The gold price of decreased by $4 per ounce to settle at $1,721 in the international market.
Explosion in Iran injures seven
- 3 گھنٹے قبل
Govt moves to simplify tax system with Urdu forms and digital invoicing
- ایک گھنٹہ قبل
Polling for 11 Senate seats in KP on July 21, list of candidates released
- 4 گھنٹے قبل
America is finally moving past its post-9/11 security theater
- 3 گھنٹے قبل
Govt's wise measures stabilizing economy: M. Aurangzeb
- 4 گھنٹے قبل
Bitcoin smashes records, surges past $122,000
- 2 گھنٹے قبل
Gold prices continue upward trend as global rates climb
- 2 گھنٹے قبل
When Apple's new iPhone will be launched?
- 3 گھنٹے قبل
Transporters join traders in nationwide strike over Finance Bill
- 2 گھنٹے قبل
Pakistan’s tech awakening: From quiet contender to global disruptor
- 2 گھنٹے قبل
Saudi Arabia lifts male guardian rule for female Hajj pilgrims
- 3 گھنٹے قبل
Israeli aggression in Gaza continues; 28 more Palestinians martyred since morning
- ایک گھنٹہ قبل
