Gold jumps Rs 13,900 a tola to Rs 426,000
International bullion gained $139 an ounce to $4,035, and Aaj News linked the local spike to the effects of the US midterm elections.
Gold rose Rs 13,900 a tola in Pakistan's bullion markets on Wednesday, taking the price to about Rs 426,000, according to All Pakistan Gems and Jewellers Association figures carried by Aaj News and Express News.
Express News put the new price at Rs 426,036 a tola. Aaj News gave Rs 426,000 in the body of its report. Both outlets agreed the increase was Rs 13,900.
The price of 10 grams rose Rs 11,917 to Rs 365,257, both reported.
In the international market, gold gained $139 an ounce to $4,035, the outlets said. Express News described the move as sudden and dated it to Wednesday, the third working day of the trading week.
Aaj News's standfirst carried a different set of numbers from the body of its own report, saying gold had risen Rs 2,400 to Rs 412,136 a tola. Express News did not publish those figures.
Express News alone reported the silver price. It said silver rose Rs 295 a tola to Rs 5,663, and Rs 253 per 10 grams to Rs 4,855.
Aaj News attributed the jump to the effects of the US midterm elections. It said prices across the country's bullion markets had been unchanged the previous day after a run of fluctuations.
The outlet listed the factors it says move gold: shifts in the value of the US dollar, uncertainty in the world economy, geopolitical tension, and where investors choose to put their money. It said investors treat gold as a safe haven when the global political and economic outlook is unclear, and that demand rises in those conditions.
In Pakistan, the rupee's exchange rate against the dollar also feeds into the local price alongside the international rate, Aaj News said.
Aaj News described the move in its headline as another large increase in the gold price.
How the reports differ
Aaj News's standfirst reported a rise of Rs 2,400 to Rs 412,136 a tola, figures the body of the same report contradicted with a Rs 13,900 rise to Rs 426,000; Express News carried only the larger figure, at Rs 426,036. Express News alone reported the silver prices and dated the increase to Wednesday, the third working day of the week. Aaj News alone attributed the rise to the effects of the US midterm elections, and it alone noted that prices had been unchanged the previous day.
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