ISLAMABAD – The price of gold increased by Rs500 to Rs67,400 per tola,according to the data compiled by the All Sindh Saraf and JewellersAssociation.
On Monday, the precious metal was down and traded at Rs66,900 beforesurging back again in later in the evening to reach its current level. Thelast week was also volatile in terms of price movements. The pricescompiled by the ASSJA come with a lag of a day after changes ininternational prices.
Pakistani traders adjust gold prices based on price movements in theinternational market and fluctuation in the dollar rates as well as marketforces of demand and supply.
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Gold usually goes up when the dollar falls as investors move away fromdollar-backed funds to gold and vice versa.
