This undated file photo shows gold bangles. — AFP

Gold registers Rs1,100 drop in outgoing week

by Pakistan News
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This undated file photo shows gold bangles. — AFP

As uncertainty around the US debt ceiling continued and investors looked at the Federal Reserve for future direction on the interest rate, the rate of gold fluctuated in both the international and Pakistani markets.

The price of gold (24 carats) increased by Rs450 per tola and Rs385 per 10 grams to reach Rs236,200 and Rs202,503, respectively, data provided by the All Pakistan Sarafa Gems and Jewellers Association (APSGJA) showed.

Cumulatively, the domestic rate dropped by Rs1,100 this week.

Meanwhile, the price of gold declined by $6 in the international market to settle at $1,946 per ounce. 

More to follow… 

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