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Pak gold price may hit Rs43000/tola
Sunday, September 19, 2010
KARACHI: The gold price may hit an all time high at Rs43,000 per tola, if its prices surged to 1300 dollars per ounce in international market, Geo News reported Saturday.
According to the sources in Sarafa markets, the gold is cheaper in Pakistan as compared to its prices in international market; however, Rs43,000-level is just around the corner.
Nazish Lutfi of ISMAR (Institute of Securities Managment And Research) said gold accounts for at least 26 percent of Pakistan’s foreign exchange reserves, indicating its feasibility for investment.
He said gold burgeoned 300 percent during the last ten years, that is quite alarming, adding yellow metal could be sold if the economies around the world perform well, leading to the markets’ crash.
However, the investors should be cautious, he stressed.
According to the sources in Sarafa markets, the gold is cheaper in Pakistan as compared to its prices in international market; however, Rs43,000-level is just around the corner.
Nazish Lutfi of ISMAR (Institute of Securities Managment And Research) said gold accounts for at least 26 percent of Pakistan’s foreign exchange reserves, indicating its feasibility for investment.
He said gold burgeoned 300 percent during the last ten years, that is quite alarming, adding yellow metal could be sold if the economies around the world perform well, leading to the markets’ crash.
However, the investors should be cautious, he stressed.
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