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Gold prices rise in domestic market

KARACHI: The per tola gold price on Monday witnessed an increase of Rs50 to Rs111,050 in the domestic market, ARY News reported.

Sharing the price of the precious metal, All Pakistan Jewelers Manufacturers Association Chairman Muhammad Arshad said that the rate of 10 grams of gold increased by Rs41 to Rs95,206 today.

In the international market, spot gold fell 0.3% to $1,817.41 per ounce pressured by U.S. Treasury yields topping a near 11-month peak on Friday, and as global shares scaled a fresh record peak. U.S. gold futures eased 0.3% to $1,818.20, Reuters reported.

“Gold’s overall technical position remains fragile, and will come under renewed downward pressure this week, if U.S. yields continue moving higher,” OANDA senior market analyst Jeffrey Halley said in a note.

Read More: Gold prices fall in domestic market

Earlier on February 12, gold prices continued to fall for the third straight day on Friday as per tola price of yellow metal had registered a decline of Rs1,050 to 110,900 in the domestic market.

Sharing the price of the precious metal, All Pakistan Jewelers Manufacturers Association Chairman Muhammad Arshad had said that the rate of 10 grams of gold decreased by Rs819 to Rs95,078.

 

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