Gold prices fall Rs600 per tola in Pakistan

Gold prices in Pakistan fell on Tuesday, according to Mettis Global. The 24-karat rate per tola was quoted at Rs486,536, a reduction of Rs600, while the same grade per 10 grams sold for Rs417,126 after a Rs514 decline. Quotes for 22-karat gold also eased, with 10 grams priced at Rs382,379 following a drop of Rs471.

Domestic silver also moved lower, with the 24-karat grade selling at Rs7,279 per tola after losing Rs100. Silver per 10 grams was priced at Rs6,240, down Rs86. Abroad, spot gold climbed 0.72 per cent to $4,636.08 an ounce by 10:08am PST, having peaked at $4,700 earlier in the session.

Mettis Global linked the international move to a weaker US dollar and the US Treasury's bond buyback programme, which kept yields from rising further. The report names no PSX-listed company, so the figures speak to bullion and commodity markets rather than to any specific equity.