ISLAMABAD: Gold prices in the local and international markets dipped on Thursday, and price of one tola of 24-karat gold registered a drop of Rs800 in line with the drop in the international rates. According to the All-Pakistan Sarafa Gems and Jewellers Association (APSGJA), the price of one tola of 24-karat gold decreased to Rs224,500. Similarly, the gold price for 10 grams of 24-karat dipped by Rs685 and was settled at Rs192,473. The major reason for the decrease in prices in the local market is because of the international rates as well as PKR-USD parity. During the last two sessions, the rupee strengthened against the US dollar by Rs2.07. However, in the preceding eight sessions, the local unit weakened by Rs12.06 in the interbank market. In the global markets, the US dollar and gold go inverse, as if the dollar weakens then gold raises and vice versa. TLTP
