Gold prices further decline due to 'rupee revival'
Business
Gold prices decline on the second consecutive day
KARACHI (Web Desk) - Gold prices in Pakistan continued to decline on the second consecutive day on Tuesday.
The All-Pakistan Sarafa Gems and Jewellers Association (APSGJA) said the price of gold (24 carats) was reduced by Rs2,200 per tola and Rs1,887 per 10 grams and settled at Rs205,000 and Rs175,754, respectively.
The price of the yellow metal increased for the second time by $17 to settle at $1,929 per ounce in the international market on Tuesday. Continued political and economic uncertainty, and high inflation made people buy gold to secure their investment.
The association said the price of silver remained unchanged at Rs2,500 per tola and Rs2,143.34 per 10 grams, respectively.
Despite an increase in the prices of bullion internationally, the local market saw a decline as the local currency recovered by Rs10.5 against the greenback.
