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

Although the Pakistani Rupee made significant gains against the US Dollar in today’s interbank trade, gold prices in Pakistan fell on Friday.

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The All-Pakistan Sarafa Gems and Jewellers Association (APSGJA) reported that the price of gold (24 carats) per tola dropped by Rs. 4,490 to settle at Rs. 201,5600. The cost of 10 grammes of gold also dropped by Rs. 4,200 to finish at Rs. 172,840.

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In the meantime, local silver prices fell to Rs. 2,140 per tola and Rs. 1,834.7 per 10 kilos.

Spot gold was up 0.37 percent to $1,842.72 in the international markets early today after hitting a 1-week high of $1,841.4 on Wednesday. Following sharp currency swings in the majority of emerging countries, gold futures appear set for modest gains for the foreseeable future. Rates are anticipated to stay in the 1,830–1,892 range over the coming days as investors flock to rare metal investments in search of longer-term gains that are more substantial.

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