Gold prices witness spike in Pakistan

KARACHI: The per tola gold price on Tuesday registered a jump in the local market, trading at Rs144,850 per tola in Pakistan, ARY News reported.

The price of precious yellow metal increased by Rs1,750 per tola in Pakistan to trade at Rs144,850, said Muhammad Arshad, the chairman of the All Pakistan Jewellers Manufacturers Association.

Likewise, the rate of 10 grams of the precious metal also saw an increase by Rs1458 to trade at Rs 124,143.

Rupee continues to recover

The Pakistani rupee continued its rally against the US dollar, extending its gains in the interbank market for the 13th consecutive session.

According to State Bank of Pakistan (SBP), the local currency closed at Rs217.79 per dollar. This equates to an appreciation of 0.08 per cent from yesterday’s close of Rs217.97.

The rupee has recovered by Rs19.79 or 8.26pc in the last 11 sessions after falling close to an all-time low of Rs239.94 on Sept 22.