Yes, you got that right.I am guessing International local rates = NY price times official USD/PKR while Local Pakistani rates = what you have to pay in PK?
If so, real gold rates indicate a USD/PKR of 255, going by the ARY link. This is against official rate 225.
Even though the local rates are higher than international rates (converted in Rs as per official rate), the public is still willing to buy Gold.
Everyone knows why.