Final Up to date On 17 Could,2019 05:56 pm
The rupee depreciation has made import of gold costly.
LAHORE (Dunya Information) – The value of gold elevated by Rs400 to Rs72,100 per tola after the worth of the US greenback in opposition to the rupee touched one other all-time excessive for the third consecutive day.
Based on Dunya Information, The value of gold has been on the rise this month. Pakistani merchants regulate gold costs based mostly on worth actions within the worldwide market and fluctuation within the greenback charges in addition to the market forces of demand and provide.
On Thursday, gold costs shot up by Rs600 per tola (11.66 grams) to a six-week excessive at Rs71,700 in Pakistan after the federal government let the rupee depreciate by three.6 p.c.
The rupee depreciation has made import of gold costly as Pakistan doesn’t produce the commodity and meet native requirement by way of imports.