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Gold prices remain steady despite floods, political uncertainty

Gold prices remain steady despite floods, political uncertainty

 

LAHORE – Gold prices remained steady on Monday in the local market despite current political unrest and flash floods in the country.

Like the last week, gold price for 24 karat closed at Rs 47,900 per tola and 22 karat gold metal price at Rs 43,900 per tola in city gold markets. Silver also remained stable in the market and closed at Rs740 per tola.

Talking exclusively to Customs Today, Karachi Sarafa Jewellers Association President Haji Haroon Rasheed said that the purchasing of gold by the Punjab and other regions’ traders now fell down to zero due to the current flash flood and political uncertainty. Now, flood affected people are selling their gold reserves to fulfill their necessities, he added. The gold rate is also going down ward as the US dollar is strengthening in local market.