ISLAMABAD: Gold prices apparently slipped in Pakistan on Saturday. The fall came after international gold rates also softened earlier.
In the local bazaars the gold rate got set at Rs. 473,162 per tola , down by Rs. 2,200. Meanwhile, 10-gram gold was fixed at Rs. 405,660 after a decline of Rs1,886.
The All-Pakistan Gems and Jewellers Sarafa Association, or APGJSA, put out these figures. They updated the rates for the day’s trading session.
On Friday itself, gold was holding steady around Rs. 475,362 per tola; global prices later started moving lower. International gold fell by $22 per ounce and finally touched $4,508 per ounce, including a $20 premium.
Silver, however, did not really change—silver stayed at Rs. 8,034 per tola in the local market. Market observers said the overseas direction of gold is what steers the local quotes.
They mentioned that currency movement, too, plus global demand, play their part in how trading levels behave. Traders said they will keep reshaping rates based on overseas market signals, and they also expect a bit of price whiplash to stay for the coming days.
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