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Gold rates move up in domestic market

KARACHI: The per tola gold price witnessed an increase of Rs1,300 to Rs115,600 in the domestic market on Monday, 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 Rs1,114 to Rs99,108.

In the international market, gold prices rose more than 2% to their highest in nearly two months on Monday, bolstered by the dollar’s slide ahead of Georgia runoff elections, while supply concerns drove platinum to its highest since August 2016, said Reuters.

Spot gold was up 2.3% at $1,942.05 an ounce by 10:06 a.m. EST (1506 GMT), having risen as much as 2.5% to its highest since Nov. 9 at $1,944.11. U.S. gold futures advanced by 2.7% to $1,946.90.

Read More: Gold prices go down in local market

Earlier on January 2, the per tola gold price had witnessed a decrease of Rs200 to Rs114,250 in the domestic market.

Likewise, the rate of 10 grams of the precious metal had fallen by Rs171 to Rs97,934, according to the All Pakistan Jewelers Association.



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