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Gold prices continue to rise in domestic market

KARACHI: Gold prices continued their upward trend for the third consecutive day as the per tola price of the precious metal on Wednesday witnessed an increase of Rs650 to Rs116,650 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 Rs556 to Rs100,008.

In the international market, gold prices hit a fresh two-month high on Wednesday as the dollar slid on growing expectations of a Democratic win in the U.S. Senate run-off election in Georgia, which would likely lead to additional fiscal stimulus, said Reuters.

Spot gold was up 0.4% to $1,956.86 per ounce at 1029 GMT, having hit a near two-month peak at $1,959.01 earlier in the session. U.S. gold futures were up 0.3% to $1,960.40.

Read More: Domestic gold price continues upward trend

Earlier on January 5, gold prices had continued their upward trend as the per tola price of the precious metal on Tuesday witnessed an increase of Rs250 to Rs115,850 in the domestic market.

 

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