Gold glitters, price touches all-time high of Rs134,400 in Pakistan

Gold extends losses as rupee rebounds

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Gold edged lower on Friday as the rupee rebounded after a four-day losing streak, remaining under pressure on expectations that the recovery phase will help stocks and currencies hold firm.

Compared to Thursday’s prices, prices fell by Rs 450 to Rs 126,150 per tola and Rs 386 to Rs 108,153 per 10 grams.

Gold traded at Rs 126,600 per tola and Rs 108,529 per 10 grams on Thursday, according to exchange rates published by the All-Sind Salafah Association.

The association determines local prices based on rupee-dollar parities and international exchange rates. According to market practice, the local gold price usually falls with the appreciation of the rupee against the US dollar and the rise of commodity prices in the international market.

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