KARACHI: The price of gold on Thursday fell as the Pakistani rupee thrashed US dollar after deal with International Monetary Fund (IMF).

The price of 24-carat gold has declined by Rs1050. The 24-carat gold is being traded for Rs141,150 at the local market. Meanwhile, the price of 10-gram gold of 24-carat has also decreased by Rs901.

The price of 10-gram gold of 24-carat has now reached Rs121,013, while the price of 10-gram gold of 22-carat has now reached Rs111,930. The price of 24-carat silver has witnessed an increase of Rs50, which is now available at Rs1570. In the international market, the price of gold has reduced by $16 per ounce to reach $1714.