Gold price drops by Rs1,900 per tola as rupee extends gains

Silver prices in the domestic market remained unchanged

Gold prices on Monday dropped by Rs1,900 as the Pakistani rupee held its ground and showed an uptick against the dollar in the wake of strong remittance inflows.

According to details, The yellow metal lost Rs1,900 to settle at Rs126,200 per tola and Rs1,629 to fall to Rs108,196 per 10 grams in the domestic market.

Local media reports, gold prices edged lower on the international front, pulling back from a more than five-month peak hit in the previous session, as cautious investors assessed whether rising inflation would prompt a more aggressive response by central banks.

The international gold price fell by $3 per ounce to $1,863.

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Meanwhile, silver prices in the domestic market remained unchanged at Rs1,480 per tola and Rs1,268.86 per 10 grams today.

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