Tuesday, December 7, 2021  | 2 Jamadilawal, 1443
Samaa TV
Facebook Twitter Youtube
HOME > Economy

Gold down as international prices fall

A tola is Rs400 cheaper and is trading at Rs66,900

SAMAA | - Posted: Jan 14, 2019 | Last Updated: 3 years ago
SAMAA |
Posted: Jan 14, 2019 | Last Updated: 3 years ago

A tola is Rs400 cheaper and is trading at Rs66,900

The price of gold fell by Rs400 over the weekend following a dip in international prices of the precious metal.

A tola was trading at Rs66,900 on Monday, according to data compiled by the All Sindh Saraf and Jewellers Association.

Gold saw several price movements up and down last week, falling by Rs600 on January 7 and then surging again by Rs200 the following day. It fell again by Rs500 over the next two days before reaching its current level at the end of the week.

The prices compiled by the ASSJA come with a lag of a day after changes in international prices. Pakistani traders adjust gold prices based on price movements in the international market and fluctuation in the dollar rates as well as market forces of demand and supply.

Related: In a volatile week, gold prices surge again

Gold usually goes up when the dollar falls as investors move away from dollar-backed funds to gold and vice versa.

Last year, gold prices increased by 20%, according to the data compiled by the Pakistan Bureau of Statistics (PBS). This was in line with international trends where gold continued to surge and reached a seven-month high. When this report went online, gold futures were trading at $1,292 per ounce in the international market.

In Pakistan, gold prices hit their highest level of Rs68,000 per tola on December 20.

FaceBook WhatsApp
 
HOME  
 
 

Tell us what you think:

Your email address will not be published.

FaceBook WhatsApp
 

 
 
 

MOST READ
MOST READ
Vehari thief steals monocle glass from Jinnah’s statue
High-speed internet coming to Northern areas of Pakistan
Sialkot lynching: Priyantha Kumar’s remains reached Colombo
Two Pakistan Army pilots martyred in Siachen plane crash
Watch: 11 suspects smash their way out of Lahore court
Irked SHC issues arrest warrants for SBCA deputy director
Video: Karachi nurses take to the streets
M-tag mandatory for vehicles on Islamabad-Lahore motorway
 
 
 
 
 
About Us   |   Anchor Profiles   |   Online Advertising   |   Contact Us   |   Feedback   |   Apps   |   FAQs   |   Authors   |   Comment Policy
Facebook   |   Twitter   |   Instagram   |   YouTube   |   WhatsApp