Pure gold supply stands suspended in Quetta

[Pak_Army]

Pure gold supply stands suspended
QUETTA: Pure gold supply remained suspended in the country and even in some other parts of the globe due to wild movement of precious metal.
Such was the situation that Quetta jewelers were not getting gold from main Karachi market, Karachi was not being supplied yellow metal from main Dubai market, while Dubai keenly awaited gold supply from Switzerland.
Short supply was due to firmness in gold price with main dealers stopping supplies in hope of reaping more profits.
Zonal Chairman of All Pakistan Gem Merchants and Jewelers Association, Muhammad Usman talking to the Balochistan Times, stated that at the international level gold weekend trading ended at 716 US Dollars per ounce.
On Monday pure gold price jumped up and was now being offered for 752 and 755 US Dollars per ounce. This firmness prompted to move gold price world over.
This jump has also created panicky situation and profit hunters have stopped supply of pure gold to goldsmiths for getting more profits, quipped this leading jeweler.
Gold rates here in Quetta also firmed up following the  international mood and was quoted at rupees 21,000 per 10 grams, it gained rupees 800 per 10 grams . On Sunday yellow metal was selling for rupees 20,200 per 10 grams.