Gold Prices Hit a 5-Month Low

Gold prices are at their lowest in the past five and a half month due to strengthened dollar.

The traders says that gold prices in domestic and international, both markets, have failed to make any headway. The reason has been the newly elected US President Donald Trump who has boosted the expectation of US spending, as the dollar rose to an 11-month high against a basket of major currencies.

“The main reason behind this decline is international gold prices, which have been sliding in the world that’s why the investors are purchasing dollar in open market,” said Pakistan Forex Association President Malik Bostan. Small gold importers purchase dollar from the open market, he said.

He also added that banks’ only source of dollars was the country’s remittances and exports, which have failed to improve and are declining for a long period. “If the remittances, exports and Foreign Direct Investment did not increase, the dollar may go up in the Interbank and Kerb”, he claimed.

He said the people invested where they thought their investment was saved therefore in Pakistan ordinary people are coming in the foreign currencies.

Details About Price Fluctuation

Since 3rd June, Spot gold has hit its lowest at $1,211.08 an ounce and is down 1.1pc at $1,211.79. US gold futures are also down 1.1pc at $1,210.40 an ounce.

SPDR Gold Trust, the world’s largest gold-backed exchange-traded fund, said its holdings have fallen 0.76pc to 934.56 tonnes as of Friday.

Silver has fallen 3.3pc to its lowest since June at $16.75 an ounce, tracking gold’s downside. Platinum is down 1.3pc at $928, whereas palladium has improved from 1.8pc to $682.22 an ounce.

SEO Team Lead, Content Strategist, and an avid sports lover!

  • Gold in International Market = 1 tola 24 k = $456.62 = Rs.47,822
    Gold in Pakistan Sarafa Market Rate = Rs.50,800
    Difference = Rs.2,978

    Its better to bring gold from abroad than cash and sell it at profit here in Pakistan. Sanyara is winning here.

  • Gold ki price pe article chaapnay walay, thori research kar k kuch community benefit aur interest k articles kyuin nahi chaap rahay? Jo k logon ko knowledge k saath saath skills aur decision making main izafa karey. For example:
    1. Comparison, fees, charges, merits, demerits of credit cards of different banks of Pakistan.

    2. Comparison of Insurance companies’ different plans of health life education and other plans. Detailed analysis.

    3. Different type of investments, mutual funds, bonds, term deposits, saving certificates etc.

    4. Trading and investment in Stock market, pros, cons, beginner to advance guide. Different sectors, different brokerage houses and use of technological apps and registering and trading, opening cdc and live accounts etc.

    Sirf articles copy pasting aur sponsored aur press releases se hi kaam chalay ga ya kuch mehnat bhi hogi propak pe? Gold prices aur gawadar port k articles already hum express tribune aur dawn pe perh chukay hain unhain yahan dobara copy paste kar k reproduce karney ka koi maqsad nahi banta. Is liye meri moudbana guzarish hai is website k “karta dharta” se k jaisey k ooper kuch adna si suggestions di hain hum unperh logon ne. Un pe nazar e karam farmai jaye. Takay yeh website haqaqi maano main benefit kar sakay readers ko. Baki copy plagiarized articles hum original source se bhi perh saktay hain.

    • Indeed…do write articles on credit cards, Insurance plans, bonds & saving certificates….make it easy to decide how to involve with interest system (soodi nizam) & guide us the way to earn Jahanum.

      • They should elaborate it, then it’s not necessary that it’ll persuade people to get them, it may persuade people to leave these too. Merits & demerits both. I didn’t say only benefits. And not particularly these topics but there are many they can cover instead of copy pasting articles on gold rates, pashtu movies and showing Internet trends of 2016 two months earlier. So please kool it!

      • Aur Bibi article perhney se koi jahanumi nahi hojata apnay kartutoon se hota hai. Is liye Chill!

        • Rasta dikhana bhi koi cheez hota hai.
          Koi aap ko chori ka rasta dikhae aur aap ko sunehray baghaat to aap wahan jaana pasand karoge.
          Ignorance is bliss, my friend.

          • Tou Bhai aap ko koun zabardasti ghaseet raha hai ghalat raastey pe? ALLAH (SWT) ney aqal bhi tou di hai na aap ko ghoor o fiker karney k liye? sunehray baaghaat dekh k agar aapka Emaan Dagmaga jata hai tou phir log kia kar saktey hain Bhai? apney nafs ko kaabu karo pehlay.

            • Bhai to jo log mulk ko loot rahay hain, Maal-e-ghaneemat main se kha rhe hain, sood khatay hain aur pata nahi kia kia kr rhe hain unkay paas dimagh nahi hai?
              Aqal di hai Allah SWT ne lekn insaan ziada tar asaani ka rasta nikaalta hai aur (Allah maaf karay) majboori se shuruwaat hoti hai aur phir zaroorat/aadat ban jaati hain bohat se cheezain.

              Baaqi Allah SWT bachae imtihanaat se zindagi main bhi aur marnay k baad bhi. Aaamen
              Kehna bohat asaan hai k nafs ko qabu karo, karna kitna muskil hai aap bhi jaante ho.

              Mera personal point of view hai jo maine pehle likha tha aur aap k agree ya disagree honay se mera point of view change nhi ho skta.
              Khush rahiay!

        • Aap to jazbati ho gae Ishtiaq sahb :p Mera zati khayal ye he ke ye cheeze Irrelevant hen being a Muslim society, or wese b hamari awam boht jaldi burai ki taraf mayel b hojati he or convinced bhi… be careful what you are spreading & preaching.

          • Agar awaam itni jahil bai tou phir tou saray medium of information hi khatam kar deney chahiye. TV, Magazines, Newspaper, Internet pe pabandi honi chahiye. Kyuin k wahan pe bhi tou daily interest, forex, aur trading rates bataye jatey hain. Banks k ads chalatay hain. Phir tou jo gali gali banks khulay huwey hain soodi karobar ki targheeb de rahay hain logon ko unko tou pehle taalay laganay chahiye. Aur I’m sure aap ka tou koi account nahi hoga bank main kyuin k it’s all interest bank system.
            And I’m not jazbati but i thought u r a sensible person, and i got amazed from ur answer though.

            Aur yeh ooper jis ne comments kiye hain k sabz baagh dikhao ge tpu log doray chalay jayien k us taraf. Us se koi yeh pochay k bhai tum insaan ho ya bheir bakri k sabz bavh dekhtey hi lapak paro ge? ALLAH (SWT) ne aqal bhi tou di hai na istimaal karney ko aur ilm bhi.
            But i really wasn’t expecting such insane reply from u. Simple is that :-).

            • Itna bara reply?? OMG :@ so finally ab apko pata chal gaya what type of person I am? the answer is inside your reply, jab already har jaga pe in cheezo ki itni marketing ho rahi he phir bhi apko mazeed info inhi topics pe chaiye?? Sorry to say…. seriously dnt want to go for more arguments. Every one has different point of view so please respect the liberty of speech :p

              • Yes, it’s done. But one thing if you believe in freedom of speech then you shouldn’t have made it an issue of Dozakh n Jannat. Hope i made sense. Lol.

                • Sood khanay wala jae ga Dozakh main kyun k Quran main likha howa hai…..
                  Allah SWT ko aap k mannay ya na-mannay se farq nhi parta. Chahay aap is baat ka mazaaq ura lo (Naozobillah) ya maan lo hoga yahi.

  • close