Gold now stands at Rs457,536 a tola, down Rs2,700 (Pakistan Observer).
Bullion
| | Change | Level | |—|—|—| | Gold, tola | -Rs2,700 | Rs457,536 | | Gold, 10g | -Rs2,315 | Rs392,263 | | Silver, tola | unchanged | Rs7,100 | | International | -$27 | $4,350/oz |
Both the tola and ten-gram figures reconcile against Monday’s Rs460,236 and Rs394,578.
A published figure that does not
Pakistan Observer gives the ten-gram fall as Rs82,315. The correct figure is Rs2,315 — Rs394,578 minus Rs392,263 — and a fall of Rs82,315 on a Rs394,578 price would be a crash of more than a fifth.
It is a transposition, and we note it because a reader checking one outlet this morning would find a number that is wrong by a factor of thirty-five.
Equities
The KSE-100 closed Monday at 171,153.16, up 268.58 points or 0.16 percent, in a volatile session that ranged from 170,902.75 to 171,732.62 — finishing positive but some 580 points below its high.
On Tuesday the index pared early gains on profit-taking. That is an intraday description, not a close; the bell is at 3:30pm.
Oil
Brent rose slightly ahead of possible US-Iran talks, after three consecutive sessions of decline from a $107.82 high to about $104.
The week’s other market fact
Petrol rose Rs4.61 today to a new high of Rs393.75 while diesel fell Rs1.96 to Rs422.08 — the two products moving in opposite directions.
What is not established
Tuesday’s close will not be known until after the bell. No analyst explanation for the gold fall has been published in the reporting we have seen.
[Image: The Express Tribune]
