KARACHI: In line with its performance last week, gold prices in Pakistan recorded a meagre gain of Rs100 per tola in the domestic market.
The precious commodity gained Rs100 per tola and Rs86 per 10 grams to settle at Rs126,300 per tola and Rs108,282 per 10 grams, respectively.
Earlier, speaking to Geo.tv, AA Commodities Director Adnan Agar had said: “In Pakistan, we cannot see a major price decline due to steep depreciation of our currency.
“Any major price decline in international gold prices would be eclipsed by the rising dollar price in Pakistan and an upward trend would be seen as double price gain for gold,” Agar had said.
In the international market, gold prices slipped by $5 to settle at $1,825 per ounce as higher bond yields and rallying equities weighed on the metal's safe-haven appeal as the new year gets underway, pushing it down from a six-week peak hit earlier in the session.
It is pertinent to mention here that cumulatively, the precious commodity gained Rs100 per tola last week in the local market.
In 2021, the price of gold recorded an overall gain of Rs12,000 per tola compared to last year's gain of Rs25,600.
Meanwhile, silver prices in the domestic market remained unchanged at Rs1,460 per tola and Rs1,251.71 per 10 grams.