LAHORE: Gold prices once again went down in the local market as one tola or 11.644 gram of 24-karat sold at Rs 49,100 after decrease of Rs 50 per tola.
Similarly, the price for 22 karat gold per tola also decreased Rs 70 per tola and sold at Rs 48,900 per tola.
The silver prices closed at Rs 750 per tola for 24-karat after decrease of Rs 43 and 22-karat at Rs 680 per tola with Rs 40 down.
Pakistan’s prominent financial expert Dr Babar Bin Dilawar said that gold prices usually move inversely with dollar rates, and decline in gold prices during past few months was because of the decrease of dollar rates against rupee. However, he said, recent decline in price of gold is because of unstable political situation and on international level due to Ukraine issue.
Commenting on the local market situation, he said that the gold prices may shot up at any moment as the local buyers depend a lot on international trading rates to fix gold price.
