Gold prices decrease Rs 300 to Rs 125,700 per tola

Gold cuts losses as rupee slips against US dollar

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Karachi: Due to the devaluation of Pakistan’s currency, Pakistan’s gold price was restricted to a small range in Thursday’s seasonal and quiet trading.

Valuable goods lost 100 rupees per tora and 86 rupees per 10 grams—exactly the same as the gains recorded the previous day—received at 126,150 rupees per tora and 108,153 rupees per 10 grams, respectively.

International gold prices fell by US$19 today to close at US$1,801, as the minutes of the Fed’s December meeting showed that the pace of interest rate hikes has accelerated, boosting the yields of the US dollar and Treasury bonds.

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