Bulls hold sway at gold markets
Gold and silver prices continued to rise in local and international markets this week as gold hit all time high on last business day and added $74 per ounce while silver stood at $2.50. According to Sindh Sarafa Market, gold prices surged in local markets due to increase in international markets. According to World Gold Council, uncertainty in the global economic condition forced the traders to buy the commodity, which pushed the prices.
Bearish trend prevails Asia
Bearish trend prevailed Asian stocks on Tuesday while decline in gold rates was also recorded.
Asia Pacific MSCI lost 0.4 percent, while Japans Nikkei Index shed 1.12 percent. Topix Index lost 0.86 percent and Shanghai Composite dropped 0.53 percent. Gold is down by $5 per ounce in the local markets.
Bearish trend prevails Asia
Bearish trend prevailed Asian stocks on Tuesday while decline in gold rates was also recorded.
Asia Pacific MSCI lost 0.4 percent, while Japans Nikkei Index shed 1.12 percent. Topix Index lost 0.86 percent and Shanghai Composite dropped 0.53 percent. Gold is down by $5 per ounce in the local markets.
Gold hits record high
The trend of increase in gold prices continued in local and international markets as gold traded at record high of above Rs 40,000 per tola in Pakistan on Tuesday.
Gold prices surged to Rs 40,165 per tola, up Rs 415 whereas price of 10 grams increased to Rs 34,437, up Rs 356 in local markets including Karachi. In international markets, gold price increased by $15 per ounce to reach $1,245. The continuous decline of dollar value is causing surge in gold buying and the prices are increasing.
Gold Price Declines by Rs 1200 Per Tola
Gold Price Declines by Rs 1200 Per Tola, Bearish trend was witnessed in the gold markets on Saturday as gold price decreased by Rs 1200 per tola.
Gold prices decreased to Rs 37,450 per tola, down by Rs 250 whereas price of 10 grams declined to Rs 32,100, down by Rs 1071 in local markets including Karachi.
In international markets, gold price declined by $44 per ounce to reach $1161.
Gold Price Declines by Rs 1200 Per Tola was first posted on December 6, 2009 at 10:58 am.
