Gold rate touches new high on rupee depreciation


KARACHI: The gold rates increased by Rs1,000 on Friday to reach record high following massive depreciation of Pak Rupee against dollar.



According to All Sindh Sarafa Bazar, the gold rates increased to Rs64,500 per Tola (11.3398 grams).

Market sources said that latest hike in gold rate had been seen due to rupee depreciation.

The local currency depreciated by Rs5.06 and ended Rs139.05  against dollar in interbank foreign exchange market.

The gold rate also increased by Rs857 to reach Rs55,297 per 10 gram.

However, the yellow commodity eased in international market by $2 to reach at $1,222 per ounce.

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