KARACHI:
Gold prices rose further in Pakistan on Thursday, tracking gains in the international market.
According to the All Pakistan Gems and Jewellers Association, the price of gold increased by Rs900 per tola, taking the rate to Rs362,600. The price of 10 grams went up by Rs772 to Rs310,871. In the international market, gold advanced by $9 per ounce, reaching $3,399.
Jewellers said domestic rates remained closely linked with global trends, while the weakening rupee also added pressure on local buyers.
On the other hand, the Pakistani rupee remained stable against the US dollar in the interbank market, while the open market recorded a minor decline.
According to the Forex Association of Pakistan, the dollar held steady at Rs282.05 in the interbank market. In the open market, it fell by 10 paisa to Rs283.70.
The euro strengthened, rising by Rs1.13 to reach Rs330.46, while the British pound gained Rs1.58, climbing to Rs383.31.
Traders said the rupee’s stability in the interbank market reflects controlled foreign exchange interventions, while minor fluctuations in the open market reflect ongoing demand and supply pressures.