Monday September 19, 2022

Gold Prices Slip In Pakistan

KARACHI: Gold prices slipped in Pakistan as the dollar ticked up in the international market and investors showed caution in the run-up to the announcement of US monetary policy announcement later this week.

The precious metal plunged Rs1,500 per tola and Rs1,286 per 10 grams to settle at Rs154,700 and Rs132,630 respectively, data released by the All Pakistan Sarafa Gems and Jewellers Association (APSGJA) showed.

For several sessions, gold has been stuck in a range and is likely going to continue to be in that range in the near term. The market will only break out into a direction after it gets more economic data and sees stability in rupee-dollar parity.

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