Gold rates in Pakistan remain stable

Gold prices closed at Rs111,000 per on Tuesday — Reuters

KARACHI: The prices of gold remained unchanged in the domestic market on Tuesday, closing at Rs111,000 per tola and 95,165 per 10-grams.

The rates on Monday went up by Rs350 per tola and Rs300 per 10-grams compared to Saturday’s prices.

AA Gold Commodities Director Adnan Agar had told that gold prices are expected to stay volatile during the week as monthly employment data of the US is scheduled to be announced on Friday, “which is one of the most important gold price determinants”.

Downward trends in domestic and global currencies have shifted investors’ interest from currency markets to gold markets.

Agar had forecasted the prices between a range of $1,780 and $1,840.

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