Gold price up by Rs400 to Rs72,100 per tola
The rupee depreciation has made import of gold expensive.
LAHORE (Dunya News) – The price of gold increased by Rs400 to Rs72,100 per tola after the value of the US dollar against the rupee touched another all-time high for the third consecutive day.
According to Dunya News, The price of gold has been on the rise this month. Pakistani traders adjust gold prices based on price movements in the international market and fluctuation in the dollar rates as well as the market forces of demand and supply.
On Thursday, gold prices shot up by Rs600 per tola (11.66 grams) to a six-week high at Rs71,700 in Pakistan after the government let the rupee depreciate by 3.6 percent.
The rupee depreciation has made import of gold expensive as Pakistan does not produce the commodity and meet local requirement through imports.
