ISLAMABAD: After a decline of Rs800 last day, the per tola gold price witnessed no change on Thursday and remained constant at Rs239,200 in the local bullion market.
Meanwhile, according to the All Pakistan Gems and Jewellers Sarafa Association (APGJSA), the rates for the 10-grams of the precious metal also remained unchanged at Rs205,075.
Like the yellow plate, the rates for the per tola silver also remained stable at Rs2,620 per tola.
Gold Price in International Market
Like the local bullion market, the rates for gold in the international market also witnessed the same response and remained stable at $2,312 per ounce.
Earlier during the last two months, The international market registered a historic record high for a number of times including the latest one where rates of the yellow plates once crossed $2430 per ounce.
The international market for the yellow plates remained highly volatile recently due to a number of reasons including investment from the Chinese investors as their stock market went down and they turned to invest in the safe haven.
Meanwhile, a number of private banks in the US also opted to invest in the yellow metal taking its price first above $2300 and then even above $2400 per ounce.
During the last couple of weeks, the price of gold in the international market registered a major upward trajectory that affected most of the bullion markets across the globe. After a significant hawkish rally, its price went up by over $260 per ounce during the last six to seven weeks. The Price for the yellow metal in the local bullion market is mostly influenced by the rates in the international market.
