Gold Prices in Pakistan Decrease by Over Rs. 4,000 Per Tola

Gold prices in Pakistan decreased on Friday after the Pakistani Rupee posted big gains against the US Dollar during interbank trade today. According to the data released by All-Pakistan Sarafa Gems and Jewellers Association (APSGJA), the price of gold (24 carats) decreased by Rs. 4,490 per tola to settle at Rs. 201,5600. Similarly, the price of 10 grams of gold decreased by Rs. 4,200 to settle at Rs. 172,840. Meanwhile, silver prices in the domestic market dropped to Rs. 2,140 per tola and Rs. 1,834.7 per 10 grams. Spot gold in the international markets was up 0.37 percent to $1,842.72 earlier today, having reached a 1-week peak of $1,841.4 on Wednesday. Gold futures look set for small gains for the foreseeable future following steep currency movements in most emerging countries. Rates are expected to remain in the 1,830-1,892 level in the next few days as people converge on the rare metal investment for bigger gains in the long term.