Gold falls Rs3,400 per tola in Pakistan, PSX sheds 251 points

KARCAHI: Gold prices in Pakistan fell by Rs3,400 per tola on Wednesday, while the Pakistan Stock Exchange (PSX) closed lower and the rupee edged up against the US dollar in the interbank market.

According to the All-Pakistan Gems and Jewellers Sarafa Association, the price of 24-karat gold dropped to Rs427,436 per tola. The price of 10 grams also declined by Rs2,915 to Rs366,457.

In the international market, gold prices fell by $34 to $4,049 per ounce, contributing to the decline in domestic rates.

Meanwhile, the benchmark KSE-100 Index closed at 179,083.80 points, down 251.44 points, or 0.14 per cent, from the previous close of 179,335.24.

The index saw a volatile session, with early gains wiped out by selling pressure towards the close.

In the interbank market, the rupee appreciated by 3.08 paisa against the dollar, which settled at Rs276.62 compared with the previous close of Rs276.65.