KARACHI, Aug 27(ABC): Gold price declines by Rs100 per tola in Pakistan despite rupee depreciation against the US dollar — which lost Rs6.01 during the week.
According to rates issued by the All Sindh Sarafa Association, gold price settled at Rs147,000. The price decreased by Rs87 per 10 grams to settle at Rs126,028 per 10 grams on Saturday.
The association determines local prices based on rupee-dollar parity and international rates. According to market practice, local prices of gold usually go down on the rupee’s appreciation against the US dollar and rising prices of commodities in the international market.
