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Gold loses shine again, ends day trading at Rs131,300 per tola

409130 065142 updates

Gold bars. — Reuters/File
Gold bars. — Reuters/File
  • Gold loses Rs150 per tola to settle at Rs131,300.
  • Price declines by Rs129 per 10 grams to close at Rs112,568.
  • Silver prices in the domestic market remain unchanged.

KARACHI: Gold prices in Pakistan were confined to a small range in seasonally-quieter trading on Saturday in line with the international market.

The precious commodity lost Rs150 per tola and Rs129 per 10 grams to settle at Rs131,300 per tola and Rs112,568 per 10 grams, respectively.

The international gold price receded by $2 to close at $1,925 today, after robust US jobs data drove the dollar higher and bolstered bets that the Federal Reserve would aggressively raise rates.

Gold shined in the domestic market during the month of March recording a gain of Rs2,750 (or 2.13%) per tola in the period while it gained Rs5,350 (or 4.24%) during the quarter ended March 31.

Gold rates in Pakistan are around Rs5,000 below the cost compared to the rate in the Dubai market.

Meanwhile, silver prices in the domestic market remained unchanged at Rs1,520 and Rs1,303.15 today.

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