Gold prices go down, further price decrease expected

Gold prices are expected to go down to Rs42,000 per tola, says President Sindh Sarafa Association.


Web Desk June 28, 2013
Gold prices are expected to go down to Rs42,000 per tola, says President Sindh Sarafa Association. PHOTO: FILE

The price of gold price went down by Rs1,000 per tola on Friday, Express News reported.

Gold price went down Rs1,000 per tola, making it worth Rs46,550 per tola. The price of 10 gram gold went down Rs857, making it Rs39,900 per tola.

Predicting a further decrease in gold prices, President of Sindh Sarafa Association Haroon Chand said, “Considering the current situation, gold prices are expected to go down to Rs42,000 per tola”.

America’s economy is improving, said Chand. He further added that America has improved its relationship with North Korea, Iran and other nation, giving a boost to its economy.

“The value of the dollar is increasing, therefore, people have started selling off their gold to buy currency. Earlier they were selling off currency to buy gold,” said Chand.

COMMENTS (1)

rashid | 8 years ago | Reply

this is the one of the biggest chances of life time to hord or buy gold as much as possible once in life time level, the current fall in gold has not seen in previous 50 years of trading history. who ever selling gold and buying currencies are fools, American economy recovering, from where you listen that story, they are printing money( 1 trillion ) 85 billion $ monthly assets purchases not creating economic activity . u look job reports , you look jobless clams, you look manufacturing numbers you even look gdp after 10 months of money printing they even did not go above 2% , last time previous week gdp come at 1.8% .they want to make every person from earth not to hold gold which is real asset, and they will give things in your hand which they can print with close eye...

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